DNO completes Norwegian asset swaps with EquinorChristian Fernsby ▼ | May 3, 2019
DNO announced the completion of the asset swap agreement between Equinor Energy, a wholly-owned subsidiary of Equinor, and Faroe Petroleum, a wholly-owned subsidiary of DNO, following approval by Norwegian authorities.
Acquisition The transaction has an effective date of 1 January 2019
As part of the transaction, Faroe Petroleum’s interests in the non-producing Njord and Hyme redevelopment and Bauge development assets were exchanged for interests in four Equinor-held producing assets on a cashless basis, including interests in the Alve, Marulk, Ringhorne East and Vilje fields. ■