OKEA sells stake in Mistral for USD 30 million
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OKEA sells stake in Mistral for USD 30 million

The Norwegian oil and gas company OKEA is selling a 20 percent stake in license PL1119 (Mistral) to Japex Norge for USD 30 million, with closing on January 1. In addition, there is a contingent additional purchase price linked to a possible discovery in Mistral Nord.

The deal is expected to have a positive net after-tax effect of approximately USD 25 million, and completion is expected in the third quarter. The divestment strengthens the balance sheet and sharpens the focus on core assets.

Mistral Sør was discovered in 2025 and comprises resources of 38 million barrels of oil equivalent.

New drilling in Mistral Nord is planned for the first quarter of 2027. Equinor is the operator and owns 60 percent of the discovery.
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