Equinor to transfer Peon interest to Vår Energi in NCS deal

Equinor and Vår Energi have agreed to exchange assets on the Norwegian Continental Shelf (NCS) in a deal intended to advance the Peon gas discovery towards development and strengthen Equinor's position in the Troll-Fram area.

Under the agreement, Equinor will transfer 32.5% of its holding in the Peon discovery and operatorship to Vår Energi.

In return, Equinor will receive interests in producing assets and development licences, including a 5% share in the Fram field and Vår Energi's stakes in the Grosbeak and Mulder discoveries and the Grønngylt prospect, which are part of the Ringvei Vest development.

The companies have also agreed on a development concept for Peon based on a tie-back solution to the Gjøa hub approximately 60km away.

This plan is expected to extend the operational life of Gjøa and support continued gas production in the region. Gas output from Peon is set to be processed through Kårstø, contributing further value for Equinor.

The Peon discovery holds estimated recoverable resources of 105–195 million barrels of oil equivalent, making it one of the largest undeveloped gas discoveries on the NCS.

Equinor Norway exploration and production executive vice-preside

Fuente original: Yahoo Finance (https://finance.yahoo.com/energy/articles/equinor-transfer-peon-interest-v-134536256.html)