OSLO, NORWAY: OKEA, as operator of the Vette licence (40% Working Interest (WI)), has decided to propose to the licence partners not to develop the Vette discovery further, due to the project’s insufficient financial robustness, a bourse filing said. OKEA took over operatorship of the licence earlier this year and has been maturing the discovery…
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OKEA appoints Svein J. Liknes as new CEO
TRONDHEIM: The Board of Directors of OKEA has appointed Svein J. Liknes as new CEO of OKEA, a news release said. The founder and current CEO of OKEA, Erik Haugane (68), has been in discussion with the Board about his succession for some time as Erik will retire from the CEO position in OKEA later…
OKEA announces acquisition of Aurora discovery from Equinor
TRONDHEIM, NORWAY: OKEA ASA announced that the company has signed a Sales and Purchase Agreement (SPA) with Equinor Energy AS for the acquisition of Equinor’s 40% operated working interest in PL195 and PL195 B, which include the Aurora discovery, with effective date 1 January 2020. Aurora is a small gas discovery in the North Sea…
OKEA ASA completes USD120mn five-year bond issue
OSLO, NORWAY: OKEA ASA, an Exploration and Production (E&P) company, has announced successful completion of a USD 120 million five-year senior secured bond issue with a coupon rate of 8.75 percent and an issue price of 99% of the nominal value. The bond issue attracted broad international investor interest. The bond issue is expected to…