Welligence Norway M&A | OKEA doubles production in Statfjord deal
March 22, 2023
On 20 March 2023, OKEA announced the acquisition of 23.93123% in the Statfjord field, 28% in Statfjord Nord, 14% in Statfjord Øst and 15.4% in Sygna from Equinor. OKEA will pay an initial consideration of US$220 million including NOK 300 million (US$28.1 million) in tax balances. The deal includes complex contingent considerations depending on oil and gas prices that expire at the start of 2026, plus Equinor partly retains decommissioning liabilities.