Cairn Energy sells Norwegian upstream business to Solveig Gas

摘要

London-Cairn Energy said Wednesday it is selling its remaining Norwegian oil and gas assets to private equity-backed Solveig Gas, as the UK explorer focuses on Mexico and Senegal after a run of weak exploration results. In a statement, the London-listed company said Solveig, which is owned by North Sea investor HitecVision, would pay $100 million plus adjustments to purchase Cairn’s Norwegian subsidiary, known as Capricorn Norge.