The Diplomat. Madrid
The oil company Repsol has reached an agreement with the OKEA Company to sell it its 60% stake in the Norwegian hydrocarbon block PL 316/316B, located in the Yme Oilfield, according to an announcement made by the buyer which considers that the operation represents “a great opportunity” to extract resources through the utilisation of underwater installations where investment backing has already concluded.
The sale is conditional upon OKEA subscribing to and obtaining the pertinent licences from the Norwegian authorities, in addition to providing an up-to-date plan on the development and operation of the Yme field.
