Vår Energi ASA has concluded the sale of its 20% interest in the Bøyla field in the Norwegian North Sea to Concedo for $24 million (post-tax).
Concedo will assume full decommissioning liabilities for its share of Bøyla, operated by Aker BP. Production started in 2015 through a subsea template tied back to the Alvheim FPSO.
Vår Energi's net production from the Bøyla field was about 1,300 boe/d during the first nine months of this year. The company said the transaction will allow it to maintain its core focus on its operated production hubs offshore Norway.
Courtesy Concedo
Concedo is a privately held, Norwegian oil company focused on exploration on the Norwegian Continental Shelf (see asset map). On Nov. 1, Vår Energi announced it completed the sale of its 20% interest in the Bøyla field to Concedo for an after-tax consideration of $24 million.
