The deal includes an operations base at Bergen
Wintershall sheds oil in NCS divestment
Deal with Norwegian independent focuses on putting appropriate assets in appropriate hands
Listed Norwegian producer Okea will pay $117.5mn in cash, with contingencies dependent on output and oil prices until 2024, to Germany’s Wintershall Dea for a portfolio of three assets on the Norwegian continental shelf (NCS). The seller wants to pursue a “stronger focus on gas and carbon management projects”. The buyer, meanwhile, aims to “find value where others divest”. In other words, the deal is about rationalising portfolios to ensure assets sit with the best owner to maximise their potential. The deal comprises a 35.2pc operated stake in the Brage oilfield, a 6.46pc non-operated share of the producing Ivar Aasen field that will take Okea’s interest up to 9.24pc, and a 6pc share in the
Also in this section
16 January 2026
The country’s global energy importance and domestic political fate are interlocked, highlighting its outsized oil and gas powers, and the heightened fallout risk
16 January 2026
The global maritime oil transport sector enters 2026 facing a rare convergence of crude oversupply, record newbuild deliveries and the potential easing of several geopolitical disruptions that have shaped trade flows since 2022
15 January 2026
Rebuilding industry, energy dominance and lower energy costs are key goals that remain at odds in 2026
14 January 2026
Chavez’s socialist reforms boosted state control but pushed knowledge and capital out of the sector, opening the way for the US shale revolution
