Eni: towards a joint venture in Norway
(CercleFinance.com) - On Monday Eni announced an agreement with the private equity firm HitecVision to merge Eni Norge AS and Resources AS, so as to form a Norwegian exploration and production company called Vår Energi AS.
Its portfolio, which will cover an area from the Barents Sea to the North Sea, produces about 180,000 barrels of oil equivalent per day (boe/d) this year from 17 oil and gas fields, which is expected to reach 250,000 boe/d by around 2023.
Vår Energi will be jointly owned by the Italian group (69.6%) and HitecVision (30.4%). Its constitution, subject to regulatory authorisations and other customary conditions, should be finalised towards the end of the current year.
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Its portfolio, which will cover an area from the Barents Sea to the North Sea, produces about 180,000 barrels of oil equivalent per day (boe/d) this year from 17 oil and gas fields, which is expected to reach 250,000 boe/d by around 2023.
Vår Energi will be jointly owned by the Italian group (69.6%) and HitecVision (30.4%). Its constitution, subject to regulatory authorisations and other customary conditions, should be finalised towards the end of the current year.
Copyright (c) 2018 CercleFinance.com. All rights reserved.