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Lotos gets approval to take over Norwegian assets

20th December 2013
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Lotos Exploration & Production Norge, a subsidiary of Poland's second-largest oil firm Grupa Lotos, has received the administrative approvals necessary to acquire the Heimdal assets on the Norwegian Continental Shelf, the parent company said on Thursday.

Lotos signed an agreement to acquire the assets from Centrica for $175.8 million in early November.

The assets include interests in 14 licenses, which cover the Heimdal gas processing and transport center (5 percent interest), the Atla (20 percent), SkirneByggve (30 percent), and Vale (25.8 percent) producing fields, the Frigg GD (10 percent), Rind (7.9 percent), Fulla (50 percent interest, operator status) development fields, as well as exploration prospects.

Poland A.M.

From Warsaw Business Journal

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