The largest assets (measured by net 2P reserves) are Nova, Martin Linge, Kvitebjørn, Eldfisk, Maria, Symra, and Ekofisk. Additional upside is envisioned through organic growth in producing assets, fields under development (Maria Revitalization, Symra, Dvalin North), and discoveries (Cerisa, Ringhorne North, Beta), as well as redevelopment opportunities (Albuskjell, West Ekofisk), DNO said.
DNO expects to absorb a team of 93 employees with the transaction.
Not included in the sale is the MLK wind farm, which will be carved out prior to closing.
Overall, DNO expects the deal to raise its global net production by two thirds to around 140,000 boe/d on a 2024 pro forma basis, increase proven and probable (2P) reserves by 50% to 423 MMboe/d, and raise North Sea 2P reserves to 189 MMboe from 48 MMboe and 2C resources to 246 MMboe from 144 MMboe.
The deal is expected to close mid-year 2025, subject to customary regulatory approvals from the Norwegian Ministry of Energy, the Norwegian Ministry of Finance, and competition authorities.