BAKU, Azerbaijan, May 14. Norway’s Equinor has announced plans to adjust its ownership stakes in key oil and gas fields, Trend reports via the company.
Equinor will increase its ownership in the Heidrun field and Noatun discovery while reducing its stakes in the Tyrihans field and the Castberg field, alongside the Carmen and Beta discoveries.
Heidrun and Tyrihans, two prominent producing fields in the Halten area in the Norwegian Sea, are pivotal in Equinor's portfolio. Heidrun, known for its longevity in production, holds a key position on the Norwegian continental shelf.
Equinor's current equity interest in the Heidrun field stands at 13 percent, with Petoro holding 57.8 percent. Meanwhile, Equinor's ownership in Tyrihans is 58.8 percent, with no equity held by Petoro.
Post-transaction completion, Equinor's ownership in Heidrun will rise to 34.4 percent, and in Tyrihans to 36.3 percent, with Petoro's stakes standing at 36.4 percent and 22.5 percent, respectively. Additionally, Equinor's ownership in Johan Castberg will reach 46.3 percent.
The swap agreement is contingent upon various regulatory approvals and approval by the Norwegian Parliament, with an effective date of January 1, 2025.
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