Equinor has signed an agreement with PGNiG to sell its non-operated interests in the Tommeliten discovery on the Norwegian Continental Shelf (NCS) for a total of USD 220 million.

Tommeliten Alpha is a gas/condensate discovery that was made in 1976. Through this transaction Equinor will divest its 42.38% interest in the Tommeliten Unit (PL 044 TA) and 30% interest in PL 044. Both are operated by ConocoPhillips. Net recoverable resources in Tommeliten Alpha are 52 million barrels of oil equivalent.

“Equinor is committed to transforming the Norwegian Continental Shelf for decades to come. Realising this ambition requires prioritisation. We are selling this asset, so we can direct our efforts towards priority projects and assets that create higher value for us,” says Jez Averty, senior vice president for operations in the southern North Sea.

This transaction follows Equinor’s sale of its operated interest in the King Lear discovery to Aker BP on 15 October.

Closing is subject to approval by PGNiG’s Supervisory Board and customary conditions, including partner and authority approval.

About Equinor

Equinor, is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.

About PGNiG

Polish Oil and Gas Company (PGNiG) is the leader of the Polish natural gas market. Listed on the Warsaw Stock Exchange the company’s core business includes exploration and production of natural gas and crude oil. Its key subsidiaries import, store, sell and distribute gaseous and liquid fuels. They also generate heat and electricity. PGNiG holds stake in about 30 companies including entities that provide professional geophysical, drilling and maintenance services. PGNiG holds exploration and production licenses on the Norwegian Continental Shelf and in Pakistan. The exploration and production activity in Norway is carried out by PGNiG Upstream Norway. While Munich-based PGNiG Supply & Trading is engaged in gas trading in Western Europe, also operating the LNG trading office in London.