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Equinor: to sells assets for $1bn

(CercleFinance.com) - Equinor announces that it has reached an agreement to sell its non-operated share in the Greater Ekofisk area and a minority share in Martin Linge (19%) to Sval Energi for 1 billion dollars.

There are also contingent payments linked to realised oil and gas prices for both assets for 2022 and 2023.

The agreement includes 7.604% of the Ekofisk PL018, PL018B and PL275 licences (including the Ekofisk, Eldfisk and Embla fields, and 6.63922% in the Tor unit).

Following this agreement, Equinor will no longer have any interest in the Greater Ekofisk area, but will retain a 51% interest in Martin Linge and will continue to be the field operator.

The agreement also includes the sale of Equinor's 18.5% interest in Norpipe Oil AS, part of the infrastructure that transports oil from the Greater Ekofisk area to land.

Equinor says that the transaction is expected to be completed in H2 2022.


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