Sval snaps up Suncor's Norway assets
Sval Energi is acquiring Suncor Energy's Norwegian assets, landing it 4,000 barrels of oil equivalent of daily production and 19mn barrels of oil equivalent reserves, the company announced on August 5.
The deal covers Suncor's 17.5% interest in the Fenja field and 30% stake in the Oda field, along with eight additional licences. It is the latest in a series of acquisitions in recent years by Sval, which is backed by private equity group HitecVision. Earlier this year the company also struck a deal to buy Equinor's interests in the Greater Ekofisk Area and the Martin Linge field.
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The Suncor deal is due to be closed before the end of the year and backdated to an effective date of March 1.