Friday 19 October 2018

Equinor has signed an agreement with PGNiG to sell its non-operated interests in the Tommeliten discovery on the Norwegian Continental Shelf (NCS) for a total of USD 220 million.

Tommeliten Alpha is a gas/condensate discovery that was made in 1976. Through this transaction Equinor will divest its 42.38% interest in the Tommeliten Unit (PL 044 TA) and 30% interest in PL 044. Both are operated by ConocoPhillips. Net recoverable resources in Tommeliten Alpha are 52 million barrels of oil equivalent.

This transaction follows Equinor’s sale of its operated interest in the King Lear discovery to Aker BP on 15 October.

Closing is subject to approval by PGNiG’s Supervisory Board and customary conditions, including partner and authority approval.