en.Wedoany.com Reported - Equinor and Vår Energi have reached an asset swap agreement on the Norwegian continental shelf. Equinor will transfer operatorship of the Peon gas discovery to Vår Energi and will receive additional production and development asset interests in the Troll and Fram areas.

Under the agreement, Equinor will transfer its 32.5% interest in Peon in licenses PL269, PL318, PL318B, PL318C, and PL318D to Vår Energi, which will assume operatorship. Equinor will retain a 67.5% interest in PL269 and a 27.5% interest in PL318, PL318B, PL318C, and PL318D until the transaction closes.

In exchange, Equinor will receive a 5% interest in the Fram field in licenses PL090, PL090E, PL090I, and PL1179, increasing its ownership to 50%. Additionally, Equinor will acquire a 40% interest in the Mulder and Grønngylt discoveries (subject to divestment from Fram PL090), increasing its stake to 85%; and a 15% interest in PL090JS and a 10% interest in PL925 for part of the Grosbeak area, increasing its stakes to 36% and 76%, respectively.

Equinor and its partners have selected to develop Peon by tying it back to Gjøa. The gas field is one of the largest undeveloped gas discoveries on the Norwegian continental shelf, with estimated recoverable resources of 105 to 195 million barrels of oil equivalent, located approximately 60 kilometers from Gjøa. The development project is expected to extend the lifespan of the Gjøa hub, supporting long-term gas production, with Peon gas to be transported to Kårstø for processing.

This transaction follows asset swaps with Aker BP and DNO, respectively. Aker BP will receive a 19% interest in licenses covering Grosbeak, Swisher, Toppand, and Røver, while Equinor will receive a 7.5% interest in Wisting, increasing its ownership to 42.5%. In the transaction with DNO, Equinor will receive a 20% interest in Røver N/S, 30% each in Sjørøver Main and Sjørøver Vest, 10% in Mistral Sør, and 30% each in Tyrihans Øst and Bergknapp. DNO will receive a 19% interest in Atlantis and a 10% interest in Afrodite near Kvitebjørn.

Completion of the transaction with Vår Energi (including the transfer of operatorship and divestments) is subject to customary approvals. Equinor will continue to serve as operator until the transaction closes.

Equinor ASA is a Norwegian listed energy company with operations spanning oil, gas, renewables, and low-carbon solutions. Vår Energi ASA is a Norwegian listed exploration and production company with activities focused on the Norwegian continental shelf.