Equinor Focuses NCS Portfolio through Sale of Non-core Discovery
Monday 15 October 2018
Equinor has signed an agreement with Aker BP to sell its 77.8% operated interest in the King Lear discovery on the Norwegian Continental Shelf (NCS) for a total of USD 250 million.
King Lear is a gas/condensate discovery that was made in 1989 in blocks PL 146 and PL 333 in the Ekofisk area of the NCS. Net recoverable resources are 77 million barrels of oil equivalent.
Closing of the transaction is subject to customary conditions, including partner and authority approval.