Wednesday, August 10 2022 Sign In   |    Register

News Quick Search



Front Page
Power News
Gas News
Today's News
Yesterday's News
Week of Aug 08
Week of Aug 01
Week of Jul 25
Week of Jul 18
Week of Jul 11
By Topic
By News Partner
News Customization


Pro Plus(+)

Add on products to your professional subscription.
  • Energy Archive News

    Home > News > Gas News > News Article

    Share by Email E-mail Printer Friendly Print

    Sval Energi closing in on deal for UK Spirit Energy's Norwegian ops - report

    November 19, 2021 - SeeNews Deals


      November 19 (SeeNews) - Norwegian energy company Sval Energi is moving closer to agreeing a deal worth USD 400 million (EUR 352.6m) to acquire the domestic oil and gas business of Spirit Energy, a majority-owned subsidiary of British energy services group Centrica Plc (LON:CNA), Reuters reported on Thursday citing unnamed industry and banking sources.

      Sval does not comment on media rumours, CEO Nikolai Lyngoe said in an email to the news agency.

      Spirit's two other shareholders are German Bayerngas and local municipal utilities company Stadtwerke Munchen. Together, the owners this year reportedly undertook to seek buyers for Spirit's Norwegian assets alone after unsuccessfully attempting to offload the entire exploration and production company for several years.

      Spirit has been present in Norway since 2006 and owns stakes in about 70 oil and gas exploration licenses on the Norwegian continental shelf. These include 40% in the producing Oda oilfield, which it operates, as well as stakes in non-operated oil and gas fields like Ivar Aasen and Statfjord.

      Sval, which is owned by private equity firm Hitec Vision, has operations spanning gas infrastructure for the oil and gas industry as well as oil and gas fields licences, and has invested in wind power.

      (USD 1 = EUR 0.881)


    Other Articles - International


       Home  -  Feedback  -  Contact Us  -  Safe Sender  -  About Energy Central   
    Copyright © 1996-2022 by CyberTech, Inc. All rights reserved.
    Energy Central® and Energy Central Professional® are registered trademarks of CyberTech, Incorporated. Data and information is provided for informational purposes only, and is not intended for trading purposes. CyberTech does not warrant that the information or services of Energy Central will meet any specific requirements; nor will it be error free or uninterrupted; nor shall CyberTech be liable for any indirect, incidental or consequential damages (including lost data, information or profits) sustained or incurred in connection with the use of, operation of, or inability to use Energy Central. Other terms of use may apply. Membership information is confidential and subject to our privacy agreement.