Equinor divests Tommeliten discovery stake

Norwegian oil and gas giant Equinor has completed the sales of its non-core Tommeliten discovery on the Norwegian Continental Shelf (NCS) to Polish state-controlled oil and gas company, PGNiG. 

Source: Equinor

Through this transaction, announced in October 2018, Equinor divested its 42.38% interest in the Tommeliten Unit (PL 044 TA) and a 30% interest in PL 044 in the North Sea. The purchase price was $220 million. Both assets are operated by ConocoPhillips.

The Tommeliten Alpha is a gas/condensate discovery that was made in 1976. Net recoverable resources in Tommeliten Alpha are 52 million barrels of oil equivalent.

As reported earlier on Friday, Equinor also completed the sale of its 77.8% operated interest in the King Lear discovery offshore Norway to Aker BP. The price was $250 million.

In related news, PGNiG’s Norwegian subsidiary, PGNiG Upstream Norway, recently said it was one step closer to drilling its first exploration well in Norway as a license operator. The company is working to select a drilling location in the Shrek prospect within the PL838 license area. The well is planned for the second half of 2019.

Offshore Energy Today Staff