Brief: North energy sells stake in Barents Sea licence to Lime Petroleum

North Energy ASA

02/12/2015 07:00

Dec 2 (Reuters) - North Energy Asa  NORTH.OL : 
    * Says has signed a sale and purchase agreement with Lime 
Petroleum Norway AS, whereby North Energy sells its 10 per cent 
interest in production licence (PL) 707 to Lime 
    * Says transaction is part of North Energy's current 
strategic process, where attention is concentrated on enhancing 
cost efficiency and optimising the licence portfolio 
    * Following closure of the sale, the licensees in PL 707 
will comprise Edison Norge as operator with 50 percent, PGNiG 
Upstream International 30 percent and Lime Petroleum Norway 20 
per cent. 
    * The effective date of the agreement is set at 1 January 
2016, and the transaction is conditional on the approval of the 
Norwegian authorities 
    * No price was disclosed in the statement 
 
Source text for Eikon:  ID:nHUG6YfLf0  
Further company coverage:  NORTH.OL  
 
 (Reporting By Stine Jacobsen) 
 ((stine.jacobsen@thomsonreuters.com;))