Sval Energi reports on Friday morning that they have signed an agreement to buy Suncor Energy Norge. They thus take over the Canadian company’s assets on the Norwegian continental shelf, which include a 17.5 percent share in the Fenja field, a 30 percent share in the Oda field and eight other licenses.
The purchase will add to Sval Energi a daily production of approximately 4,000 barrels of oil and gas and a reserve of 19 million barrels of oil and gas. The employees of Suncor Energy are transferred to Sval Energi.
– The Norwegian continental shelf is still attractive, and we are building a strong company that will create value for society and our owners. We have fields in production, new developments underway and exciting exploration opportunities. The aim is to become a significant player on the Norwegian continental shelf. It is now about to happen, says managing director Nikolai Lyngø of Sval Energi.
More acquisitions
This is Sval’s latest in a series of acquisitions on the Norwegian continental shelf. Recently, the company bought Spirit Energy Norway and they acquired the Ekofisk and Martin Linge fields for one billion dollars.
Sval Energi is a Norwegian energy company, owned by the investment company HitecVision, with headquarters in Stavanger. Before the acquisition by Suncor, they had 155 employees.
They have a goal of reaching a production of 100,000 barrels of oil and gas per day in 2023, and according to themselves are likely to reach the goal.
They are the operator of two producing fields, Oda and Vale, and a partner in a further eight fields and five developments.
