The independent Norwegian oil company OKEA said on Thursday 30 November that it had postponed the acquisition of a 28% stake in the Statfjord area from Equinor, in the amount of $220 million, in reason for the revision of volume estimates.

OKEA planned to complete the acquisition on November 30 and informed Equinor of the delay. She said that Equinor had provided updated information “that indicates a reduction in 2P and 2C volumes of 10% to 15% over the lifetime of the assets acquired” compared to previous estimates. It also anticipated that the acquisition would add 13,000 to 15,000 barrels of oil equivalent per day to new production in 2023, and then 16,000 to 20,000 barrels per day in 2024. The company also said that it was continuing discussions with Equinor on what to do next.