Okea Eyes Listing by Mid-2019

Tuesday, May 7, 2019

Norwegian oil company Okea AS said on Tuesday it was planning an initial public offering by mid-2019, in a bid to raise funds to finance further expansions.

The company, which is partly owned by Thailand's Bangchak Corporation and private equity firm Seacrest Capital, had previously said the IPO was expected some time in 2019.

The company produced around 19,500 barrels of oil equivalents per day (boed) in the first quarter of 2019, compared with just 369 boed in the year-ago period, boosted by an acquisition, it said in a statement on Tuesday.

Okea was co-founded by former Norwegian Oil Minister Ola Borten Moe in 2015 and last year it bought stakes in two Norwegian fields from Shell. 


(Reporting by Terje Solsvik; Editing by Rashmi Aich)

Categories: Finance Industry News Europe Oil

Related Stories

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

Seatrium Makes First Turnkey FPSO Delivery to Petrobras

Baker Hughes, Petronas Team Up for Asia-Pacific Energy Resilience

Woodside Finds South Korean Partners to Advance LNG Value Chain

PTTEP Hires Energy Drilling’s Rig for Southeast Asia Offshore Job

Azeri SOCAR Plans New Agreements with Oil and Gas Majors

Turkey Discovers New Black Sea Gas Reserve

Borr Drilling Bags Three New Assignments for its Jack-Up Drilling Rigs

CNOOC Sees 11% Profit Growth in 2024 Driven by Record Oil Production

Current News

PTTEP Acquires Southeast Asia’s Offshore Block from Chevron’s Hess Unit for $450M

Valeura Energy, PTTEP Partner Up on Gulf of Thailand Blocks

Sapura Scoops Over $118M for Chevron, PTTEP Subsea Ops off Thailand

Pandion Energy Divests Interests in Three Norwegian Assets to Inpex

China Starts Production at Major Oil Field in Bohai Sea

Dutch Contractor Completes Malaysia’s Largest 'Rig-to-Reef' Decom Project

China Rolls Out 17MW Floating Wind Turbine Prototype

SBM Offshore’s Jaguar FPSO Enters Drydock in Singapore (Video)

EnQuest Picks Up Offshore Oil and Gas Block in Brunei

CNOOC Finds Oil and Gas in South China Sea

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com