Norway’s OKEA and M Vest buy oil, gas assets from Britain’s Neptune

OSLO (Reuters) – Britain’s Neptune Energy said on Friday it has agreed to sell stakes in several Norwegian oil and gas assets to Norway’s OKEA and M Vest Energy for a total of $35 million.

OKEA separately said it will buy a 2.2% stake in the Ivar Aasen oil and gas field, raising the firm’s expected output for 2022 to 18,000-19,000 barrels of oil equivalent per day (boepd) from a previous guidance of 17,000-18,000 boepd.

M Vest Energy meanwhile acquired a 7.56% stake in the Draugen field, 4.4% in the Brage field and 0.8% in Ivar Aasen, as well as 1.2% in the Edvard Grieg oil pipeline and 1.8% in the Utsira High gas pipeline.

M Vest Energy, which has Norwegian billionaire Trond Mohn among its investors and had no stakes in producing fields so far, said it expected net production in 2022 of 1,700-1,800 boepd.

(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)