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

Oil Rises as Widening Conflict Endangers Red Sea, Hormuz Flows

Eni Exits Consortium for Oil and Gas Exploration Offshore Israel

Big Oil to Reap Billions from Energy Price Surge

Rising Costs of War: Gulf Energy Infrastructure Stares Down $25B Repair Bill

US Oil Shield Starts Showing Cracks as Iran War Drives Prices Higher

Iran War Exposes Risks of Fossil Fuel Dependence

GLO Marine to Invest $7M in New Vessel Retrofit Hub in Romania

MODEC, Eld Energy Partnership Targets Low-Carbon FPSO Power

Seadrill Firms Up Offshore Drilling Workload with Multi-Region Contract Awards

Turkish Petroleum, Chevron Discuss Joint Oil and Gas Exploration

Current News

Drone Strike on Kuwaiti Oil Tanker off Dubai Signals Further Escalation in Gulf

INPEX Extends Pertamina LNG Pact, Signs Upstream MoU in Southeast Asia

Chiyoda, NYK, KNCC Target Global CCS Value Chain Development

PV Drilling Names New ‘Super Rig’ ahead of April Operations

Big Oil to Look Beyond Middle East as War Raises Risks

Oil Rises as Widening Conflict Endangers Red Sea, Hormuz Flows

Eni Exits Consortium for Oil and Gas Exploration Offshore Israel

Big Oil to Reap Billions from Energy Price Surge

UAE Stands Ready to Join Force to Reopen Strait of Hormuz

Asian Buyers Rush for Russian Oil Amid Supply Disruption

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