Bergen, 5 October 2023
Petrolia Noco AS (“the Company”) is pleased to announce that it has signed an agreement with Vår Energi ASA to acquire Vår Energi’s 12.2575% participating interest in the Brage field on the Norwegian Continental Shelf with effective date 1 January 2023.
Net production (12.2575% WI) from the Brage field in the first half of 2023 was 1.0 kboed and remaining net reserves at year-end 2022 was 1.9 mmboe.
The transaction is subject to normal regulatory approval and is expected to be completed in Q4 2023.
For further information, please contact:
Morten Stenhaug, CEO
+47 911 92 908
Erik von Krogh, CFO
+47 930 38 075