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Arntzen de Besche have assisted Lime Petroleum with the acquisition of a 10 percent working interest in the YME field in Norway

We are proud to have acted as legal advisers to Lime Petroleum in this sale and purchase agreement with KUFPEC Norway AS. Lime Petroleum acquires a 10 percent interest in the producing YME field on the Norwegian North Sea. The total transaction value is USD 68.053 million, and will be paid in cash on completion of the transaction.

The YME field is operated by Repsol Norge AS, and with this acquisition Lime Petroleum will further strengthen its position as a full-fledged exploration and production player in the Norwegian Continental Shelf.

The transaction between KUFPEC and Lime Petroleum AS is subject to customary governmental approval. The effective date of the transaction will be 1 January 2022, and estimated to be completed in December 2022.

We congratulate all parties involved. Our core team consisted of Rune Omdahl, Rune Tjomsås Andersen, Ane Stanger Tronrud and Aleksander Dypvik Myklebust.

Read the full press release here.