Norwegian Energy Company (Noreco) has completed the sale of its interests in the Siri field in the Danish North Sea to DONG Energy.
The agreement to sell Siri was announced in July this year. The agreement involves Noreco’s 50 percent interest in license 6/95 in Denmark, and the price is USD 13 million with effective date 1 July 2011. Noreco’s ownership in Siri’s satellite fields Nini East, Nini and Cecilie remains unchanged and unaffected.
Einar Gjelsvik, CEO in Noreco in July said: .“This agreement is positive for Noreco because it removes the inherent uncertainty around the Siri situation. We now know that Noreco will not take part in the future investments on Siri. We also know that the operator DONG Energy will take all necessary steps to secure continued operations on Siri, which will benefit Noreco as a partner in the satellite fields Nini East, Nini and Cecilie,”
[mappress] Offshore Energy Today Staff, December 23, 2011; Image: DONG Energy