TRONDHEIM, Norway ̶ Det norske oljeselskap has agreed to acquire Svenska Petroleum Exploration AS for a cash consideration of $75 million.
Swedish company Svenska has 15 employees at its operation in Norway, of which all will be transferred to Det norske.
In addition, it holds four exploration licenses in the Norwegian Sea. Potential investment decisions on Krafla/Askja and Garantiana developments could be taken in 2018.
The transaction is expected to close during 1Q 2016, subject to regulatory approvals.
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