Wednesday 1 May 2019

DNO ASA, the Norwegian oil and gas operator, announced the completion of the asset swap agreement between Equinor Energy AS, a wholly-owned subsidiary of Equinor ASA, and Faroe Petroleum plc, a wholly-owned subsidiary of DNO, following approval by Norwegian authorities.

The transaction has an effective date of 1 January 2019.

As part of the transaction, Faroe Petroleum’s interests in the non-producing Njord and Hyme redevelopment and Bauge development assets were exchanged for interests in four Equinor-held producing assets on a cashless basis, including interests in the Alve, Marulk, Ringhorne East and Vilje fields.