OKEA to acquire package of A/S Norske Shell’s interests on the Norwegian Continental Shelf for 4.5 billion NOK

Azinor news

OKEA AS, the oil and gas production and development company on the Norwegian Continental Shelf (“OKEA”), founded by management and Seacrest Capital Group, is pleased to announce it has entered into an agreement with A/S Norske Shell to acquire working interests in the Draugen (44.56% - Operator) and Gjøa (12% - Non- operator) fields for a total consideration of 4.52 billion NOK (~$556 million). 80% of decommissioning financial liabilities will remain with Shell up to an agreed cap.