OKEA acquires Shell’s stake in Draugen and Gjøa for NOK 4.52 billion. Haavind has assisted Seacrest Capital Group
Haavind assisted and represented Seacrest Capital Group and the investor side in connection with the transaction, equity financing and project implementation.
Haavind has assisted and represented Seacrest Capital Group and the investor side in connection with the transaction, equity financing and project implementation.
OKEA AS has entered into an agreement with A/S Norske Shell for the acquisition of Shell’s shares in the Draugen and Gjøa fields.
OKEA will also take over Draugen’s operations as part of the transaction. The acquisition gives OKEA a daily net production of 22,000 barrels of oil equivalents from January 2018, while the resources increase from 11 to 53 million barrels of oil equivalents. The transactions are subject to approval by the Ministry of Petroleum and Energy and the Ministry of Finance.
The acquisition will be financed through a new bond loan of USD 180 million and an issue in the amount of NOK 1 billion.
