Centrica to Sell Spirit Energy’s Norway Assets for $1.1 Billion

Equinor will buy Spirit's stakes in the Statfjord area licenses for $50 million, plus contingent payments linked to British gas prices.

Marwa Rashad and Nerijus Adomaitis, Reuters

British energy supplier Centrica and its partner, German utility Stadtwerke Munchen, have agreed to sell their oil and gas assets off Norway for a total of $1.1 billion, Centrica said on Dec. 8.

The buyers are Sval Energi, a unit of Norwegian private equity firm HitecVision, as well as state-controlled oil and gas firm Equinor.

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