OKEA to buy Wintershall’s stake in Yme license

OKEA AS, Trondheim, has signed an agreement to acquire the 10% stake in the Yme license owned by Wintershall Norge AS in the Norwegian North Sea. Financial terms weren’t disclosed.

The agreement is subject to approval by the Norwegian Ministry of Petroleum and Energy. Completion is expected by yearend.

Repsol Norge AS is operator of PL 316 and has 60%. Lotos E&P Norge AS has 20% and Kufpec Norway AS has 10%.

Earlier this year, OKEA agreed to buy Repsol’s share (OGJ Online, Aug. 24, 2016). That agreement is subject to Norwegian authorities’ approval of an updated plan for development and operation.

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