Offshore staff
SANDNES, Norway — Vår Energi has agreed to sell its 20% interest in the producing Bøyla Field in the Norwegian North Sea to Concedo for $24 million.
Bøyla came onstream in 2015 via a subsea template tied back to the Aker BP-operated Alvheim FPSO. Vår Energi’s net production from the field was about 1,400 boe/d during the first quarter this year.
CFO Stefano Pujatti said, "The transaction is aligned with our stated ambition to dispose of non-strategic assets to optimize our portfolio of assets, reducing our operating costs and emission outlook and enhance future value creation."
Pending regulatory approvals, the deal should clear during the fourth quarter, with Concedo assuming full decommissioning liabilities for its share of the field.
05.28.2024
