Equinor completes transactions with Faroe on NCS assets

Source: press release, 30 April 2019

The Njord A platform in the Norwegian Sea
The Njord A platform in the Norwegian Sea (photo: Thomas Sola/Equinor ASA)

Equinor and Faroe Petroleum have completed the series of transactions that were previously announced in December 2018.

These transactions were calibrated as a balanced swap when it comes to value with no cash consideration.

As a result of these transactions Equinor has strengthened its operated position in the Njord area and remains operator and majority equity holder in Alve, while reducing its exposure to non-core and partner-operated assets.