Wintershall Norge has signed a sales agreement with the Norwegian oil company OKEA to sell its 10% share in the Yme licence on the Norwegian Continental Shelf (NCS).
Following the transaction, the equity ownership in PL 316 licence is: Repsol Norge AS (operator) 60%, LOTOS E&P Norge AS 20%, Kufpec Norway AS 10%, OKEA 10%.The Yme licence PL 316 lies in the south eastern part of the North Sea.
Once completed, the transaction will be effective retroactively from 1.1.2016. Completion is expected by the end of this year.
This agreement is subject to approval by the Norwegian Ministry of Petroleum and Energy.