Suncor buys Fenja stake

摘要

Faroe Petroleum has agreed to sell Suncor Energy Norge a 17.5% stake in the Fenja development in Production Licence 586 (PL 586) in the Norwegian Sea. Faroe will sell the stake to Suncor for cash consideration of US $54.5m (including tax balances). Faroe will retain 7.5% stake in Fenja, thus aligning the company's equity at 7.5% across the Greater Njord Area (Njord, Fenja, Bauge and Hyme);