Norway government may raise stake in Dvalin gas field development
OSLO (Reuters) -- The Norwegian government may further raise its stake in the Dvalin natural gas field development, which is expected to start producing in 2020, the country's oil ministry said on Friday.
Norway's state-owned oil firm Petoro has previously signed deals to buy stakes amounting to 30 percent of the Norwegian Sea field from Austria's OMV and Denmark's Maersk Oil.
"The state may raise its stake further," the oil ministry said in a document published as part of Norway's fiscal budget process.
Operator DEA, controlled by Russian billionaire Mikhail Fridman, last month unveiled a $1.17-billion development plan for the field.
DEA holds a 40% stake in the field and has agreed with Maersk to raise this to 50 percent. Italy's Edison owns the remaining 20%.
OMV and Maersk will no longer own stakes in Dvalin if the planned transactions are approved by regulators and by parliament.
Petoro declined to comment. A spokesperson for DEA was not immediately able to comment, while Edison did not reply to a request from Reuters.
Reporting by Stine Jacobsen, editing by Terje Solsvik
- Gasum powers Equinor's platform supply vessel with bio-LNG
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Golar LNG signs EPC deal for $2.2-B MK II FLNG conversion project
Comments