North Energy has agreed to sell its 12% interest in Norwegian production license 433 for $12 million to Centrica Resources (Norway).
Offshore staff
ALTA, Norway – North Energy has agreed to sell its 12% interest in Norwegian production license 433 for $12 million to Centrica Resources (Norway).
The license contains theFogelberg gas/condensate discovery. Last year the partners committed to drawing up potential development solutions, which should lead to submission of a plan for development and operation within a few years.
Completion of the transaction, which has to be approved by the Norwegian authorities, is expected this spring.
