CapeOmega buys Noreco’s stake in Oselvar in North Sea

Offshore staff

STAVANGER, NorwayNoreco Norway expects to complete a sale of its interests in two licenses offshore Norway by year-end.

Mature field specialist CapeOmega will receive 15% of licenses PL274 and PL274 CS in the southern Norwegian North Sea, which include the producing Oselvar field, with associated tax balances for a total consideration of NOK 201 million ($23 million).

The transfer remains subject to approvals from the Norwegian authorities.

11/12/2015

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