Equinor ASA (OB:EQNR) agreed to acquire Norwegian Oil and Gas Exploration and Production (E&P) Business of Spirit Energy Norway AS for $50 million.
As of May 30, 2022, Centrica plc announces that all conditions for the sale of Spirit Energy's Norwegian assets to Sval Energi AS and Spirit Energy's interests in the Statfjord field to subsidiaries of Equinor ASA for an initial headline consideration of $1.1 billion have now been satisfied, and completion of the transaction is expected to occur on May 31, 2022. As part of the transaction, originally announced on 8 December 2021, all decommissioning liabilities associated with the assets will also transfer to the buyers. The final headline consideration may rise to $1.2 billion dependent on commodity prices. Hywel Davies, Robert Innes, Julian Ried, Sam Gregory, Stephanie Schiller, Daisy Jones, Kathryn Martin Cussons and Will Morris (corporate); Oliver Moir, Iain McCann and Nicole Hunter (infrastructure and energy); Gareth Miles, Ed Milliner and Kyle O'Sullivan (tax); Lisa Wright (competition); and Daniel Schaffer (pensions) of Slaughter and May acted as legal advisors to Spirit energy.