Sval Energi has agreed to sell its 11.8% share in the Halten Øst Unit to Equinor.

CEO Halvor Engebretsen of Sval Energi said: “We are pleased with this deal as it supports our ongoing efforts to optimize our portfolio. This allows us to exit a development asset in a non-core area on the Norwegian shelf for Sval.”

The effective date of the transaction is 1 January 2024, and it is subject to approval by the Ministry of Energy.

Sval Energi has grown rapidly over the last three years and is now amongst the top ten producers on the Norwegian continental shelf (NCS). Sval’s focus is to deliver further growth from its significant portfolio whilst continuing to pay dividends and take part in the ongoing consolidation on the NCS.