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Equinor sells stakes in 2 Norway fields to Sval Energi

BY Reuters
— 2:13 AM ET 05/10/2022

OSLO, May 10 (Reuters) - Norwegian oil major Equinor (EQNR) said on Tuesday it had agreed to sell its 7.6% stake in Norway's giant Ekofisk field as well as a 19% stake in the Martin Linge field to private equity-backed Sval Energi.

"The agreement includes a cash consideration of $1 billion and a contingent payment structure linked to realised oil and gas prices for both assets for 2022 and 2023," Equinor (EQNR) said in a statement. (Reporting by Terje Solsvik, editing by Gwladys Fouche)

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