DNO ASA has agreed to transfer selected non-core license interests to Equinor Energy AS in exchange for a significantly reduced decommissioning deposit, improving near-term liquidity by more than USD 35 million. The agreement replaces a post-tax deposit obligation assumed through DNO's 2025 acquisition of Sval Energi AS, which would have been held by Equinor until the Ekofisk and Martin Linge fields are decommissioned. Under the new terms, DNO will make a one-time payment and transfer a 20 percent interest in PL293B and 293 CS, a 29 percent interest in PL827 S, and a 10 percent interest in PL1245. DNO will fully exit the Kveikje discovery while retaining 20 percent interests in Heisenberg and PL1245. Executive Chairman Bijan Mossavar-Rahmani said the divestment fast-tracks monetization of exploration discoveries without changing reserves or output, and the company remains on track to raise North Sea production to 100,000 barrels of oil equivalent per day by 2030.
Dno ASADivests non-core interests to Equinor, reducing decommissioning deposit and improving liquidity by over $35 million.
Equinor ASA ADREquinor receives DNO's non-core license interests and holds the reduced decommissioning deposit, but the deal's net effect on Equinor is not stated.
