Fossil Energy – Sale
OKEA announced it has agreed with Lime Petroleum to sell its 15% working interest in the Yme licence for a post-tax cash consideration of USD 15.65 million.
The effective date of the Transaction is 1 January 2024 with expected closing before year-end 2024.
OKEA CEO, Svein J. Liknes stated: “Following several years as a partner in the Yme license, we have decided to exit a non-core area with a relatively small holding. The divestment allows OKEA to focus financial and human resources in our core areas, and we are pleased to announce this transaction with Lime Petroleum for the mutual benefit of both parties.”
