Kvale acting for Pandion Energy in the acqusition of an ownership interest in the Norwegian oil and gas fields Valhall og Hod

Kvale is acting for Pandion Energy AS (Pandion Energy) and its main owner Kerogen Capital in the acquisition of a 10 percent stake in the Valhall and Hod fields on the Norwegian continental shelf (NCS). Kvale’s core team is headed by Yngve Bustnesli and includes Marius L. Andresen (partner), Erik Brannsten (partner), Snorre Nordhus, Lilly Relling, Gunnar Ekmann Flønes and Siri Terese Berge. Aker BP and Pandion Energy entered into a sale and purchase agreement 4 December 2017. The agreement is conditional upon governmental approvals.

Since production commencement in 1982, the Valhall field continues to be one of the largest oil fields in the southern Norwegian North Sea. Together with the Hod field more than one billion barrels of oil equivalents have been produced.

Pandion Energy will through the execution of the agreement take the important step to become an active participant in producing fields on the NCS.