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Sale of E.ON’s Norwegian operation completed

It was announced on 14 October 2015 that E.ON has signed an agreement with DEA Norge AS regarding the sale of all issued and outstanding shares in E.ON E&P Norge AS. The transaction was completed 16 December 2015, and is the largest one on the Norwegian Continental Shelf in 2015.

E.ON E&P Norge AS has in total 43 production licenses at the Norwegian Continental Shelf, including participating interests in the producing fields Skarv (28.1 %), Njord (30 %) and Hyme (17.5 %), development projects and discoveries, including Snilehorn, Snadd and Fogelberg, and also a wide portfolio of exploration licenses on the Norwegian Continental Shelf.

E.ON is one of the largest energy companies in the world, and is headquartered in Düsseldorf.

DEA Norge AS is a subsidiary of DEA Deutsche Erdoel AG, owned by the investment fund LetterOne. Following the transaction DEA will produce 75.000 barrels of oil equivalent per day and hold 74 licenses.

The team from Arntzen de Besche has been led by partner Anders Rødland. The core team has otherwise consisted of partners Rune Tjomsås Andersen, Anders Heieren and Stein Ove Solberg and senior lawyers Cecilie O. Lindseth and Tonje P. Gormley

More information about the transaction is available at Offshore Energy Today and Woodmac