Japex Norge to acquire OKEA’s share in Norwegian Sea Mistral area
Japex Norge AS has agreed to acquire a 20% interest in Equinor Energy AS-operated PL1119 (Mistral) area in the Norwegian Sea from OKEA ASA for US$30 million.
While OKEA is selling its 20% working interest the deal includes a contingent consideration to ensure it retains an upside given a commercial Mistral Nord discovery, the company said in a release Apr. 20.
OKEA said Mistral Sør was discovered in first-quarter 2025 with recoverable resources of 38 MMboe, while an additional exploration prospect, Mistral Nord, is planned to be drilled in first-quarter 2027.
The transaction, subject to customary governmental approvals, is expected to close by the end of this year’s third quarter.
After closing, Equinor will continue to hold its 60% operated interest. Partner will be Inpex Idemitsu Norge AS (20% ) and Japex Norge AS (20%).