Equinor has agreed to acquire an 11.8% stake in the Halten East Unit from Sval Energi, increasing its ownership to 69.5%, thereby strengthening its operations in the Norwegian offshore sector.

Information on the Target

Equinor has reached an agreement to acquire an 11.8% stake in the Halten East Unit from Sval Energi, increasing its total ownership to 69.5%. This acquisition marks a significant step for Equinor as it enhances its presence in the Norwegian offshore sector, particularly in the Kristin-Åsgård area within the Norwegian Sea.

The Halten East development features six gas discoveries and three additional prospects. These resources will leverage existing infrastructure and processing facilities at the Åsgard B platform. The estimated recoverable reserves in the Halten East Unit amount to approximately 100 million barrels of oil equivalent, with about 60% allocated for gas exports to Europe via the Kårstø terminal.

Industry Overview in Norway

The offshore oil and gas industry in Norway is renowned for its advanced technology and stringent environmental standards. As one of the world's leading oil producers, Norway has a robust regulatory framework that promotes environment