STAVANGER, Norway – Sval Energi has agreed to acquire Edison Norge for $300 million.
The transaction, likely to close during the first half of this year, will add 25 MMboe (57% gas) to Sval’s reserve base.
Edison Norge is based in Stavanger with 24 staff, and stakes in nine Norwegian offshore production licenses.
Gas from Dvalin, a subsea tieback to the Heidrun platform, will be exported through the Polarled pipeline, in which Sval holds an interest, while Nova is a tieback to Gjøa.
Last year Sval acquired Cairn’s Norwegian subsidiary Capricorn Norge.