FX.co ★ Equinor Divests 19.5% Interests To PGNiG Upstream Norway

Equinor ASA (EQNR) announced on Tuesday the sale of a 19.5% stake in production licenses PL 048E, which encompasses the Eirin field, and PL 1201 to PGNiG Upstream Norway AS. This transaction aims to foster a balanced partnership with the Gina Krog field.

Equinor highlighted that "The electrification of the platform, combined with the Eirin development, will prolong the operational life of the Gina Krog field. This field provides gas to Europe with minimal emissions from both production and transport."

Any discoveries within production license PL 1201 could leverage Eirin's infrastructure and be integrated with the Gina Krog platform.