Chrysaor agrees to join Norwegian Grevling field partnership
OKEA has agreed to farm out a 15% interest in a license in the Norwegian North Sea to Chrysaor Norge.
TRONDHEIM, Norway – OKEA has agreed to farm out a 15% interest in a license in the Norwegian North Sea to Chrysaor Norge.
PL038D contains theGrevling oil discovery: Chrysaor also has an option to increase its stake to 35%.
Pending approval for the initial transaction, OKEA will remain operator, the other partner being Norwegian state-owned company Petoro.
Development concepts are under review and the partners expect to decide on a development plan later this year.
Erik Haugane, OKEA’s chief executive, said: “For OKEA to succeed against its business strategy to develop and produce fields, which are outside the focus of the large oil companies, we need partners with aligned priorities…
“Chrysaor is an ideal partner for OKEA with its significant scale, infrastructure, and expertise. We look forward to leveraging Chrysaor’s UK experience, and working with them on Grevling and further opportunities in Norway.”