Centrica to Sell Spirit Energy's Oil & Gas Assets in Norway
December 08 2021 - 2:59AM
Dow Jones News
By Jaime Llinares Taboada
Centrica PLC said Wednesday that it has agreed to the sale of
Spirit Energy's oil-and-gas assets in Norway to Equinor ASA and
Sval Energi AS for $1.08 billion.
Centrica, which owns 69% of Spirit Energy, said that the deal
will also include a deferred commodity price-linked payment, and
that the buyers will be transferred all 830 million pounds ($1.10
million) of decommissioning liabilities.
"We are pleased to continue to bring focus to Centrica's
portfolio with these transactions, which are aligned with our
strategy to reduce our exposure to carbon-intensive oil-and-gas
exploration and production in a way that maximizes shareholder
value," Centrica's Chief Executive Chris O'Shea said.
The deal is expected to be completed in the second quarter of
2022.
Write to Jaime Llinares Taboada at jaime.llinares@wsj.com;
@JaimeLlinaresT
(END) Dow Jones Newswires
December 08, 2021 02:44 ET (07:44 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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