It is the end of the road for Noreco Noway. In a corporate statement, parent group Norwegian Energy Company informs that it is selling Noreco Norway along with all accompanying licenses, organization and staff to company Djerv Energy. The only thing not included in the sale to Djerv is the 4.36 percent stake in oil field Enoch on the border between the British and Norwegian North Sea. This stake is sold to CapeOmega.
But things are not entirely over, because while the majority owner of Djerv Energy - a company founded in late September this year - is registered as a US-based equity fund, the Norwegian parent company will keep 30 percent.
Already a subscriber? Log in.
Read the whole article
Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.
- Access all locked articles
- Receive our daily newsletters
- Access our app