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Related to the agreement, DNO said it has entered into an offtake financing facility with an undisclosed U.S. Under the facility, the bank finances DNO the value of up to 270 days of scheduled gas production based on future gas sales receivables. bank for up to $500 million.
The acquired portfolio consists of 16 producing fields in Norway, quadrupling DNO’s North Sea production to 80,000 barrels of oil equivalent per day (boepd), the company said in a news release. Its largest assets, measured by net 2P reserves, are Nova, Martin Linge, Kvitebjørn, Eldfisk, Maria, Symra and Ekofisk.
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