Supermajor Royal Dutch Shell said Wednesday it sold off its entire stake in two fields in production off the Norwegian coast for $556 million. Shell’s subsidiary in Norway sold its entire 44.56 percent interest in the Draugen field and its 12 percent in the Gjøa to Norwegian energy company OKEA. OKEA CEO Erik Haugane in a statement on the deal said the agreement with Shell was a “high-quality acquisition.” His company estimates it will become the 19th largest producer offshore Norway with the deal. The Shell acquisition gives it a boost in net production of about 22,000 barrels of oil equivalent. With the new interest in Draugen, OKEA said it aims to extend production into the 2040s by becoming the field’s operator. Similar ambitions were expressed for Gjøa, where links […]