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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
Wintershall to divest certain Norwegian North Sea assets
Wintershall is divesting assets in the four non-operated fields Knarr (20%), Veslefrikk (4.5%), Ivar Aasen (6.4615%) and Yme (10%) on the Norwegian continental shelf to Tellus Petroleum, a recently acquired 100% subsidiary of Sequa Petroleum. At the same time, Wintershall is reducing its share in the own-operated Maria development by 15% to 35% and has gained Tellus Petroleum as a further partner to develop this field, for which the plan for development and operation (PDO) was recently submitted. The package Wintershall is selling to Tellus Petroleum also includes equity stakes in seven exploration licences in the vicinity of the Knarr, Maria and Ivar Aasen fields and in the Barents Sea, as well as ownership interests in the Utsira High gas pipeline (3.8769%), the Edvard Grieg oil pipeline (2.5846%) and the Knarr gas pipeline (20%).
News Item details
Journal title: Petroleum Review
Countries: Norway -
Organisation: Wintershall AG
Subjects: Asset management
