On 5 December 2018 Faroe Petroleum announced that it has entered into a swap agreement with Equinor, where Faroe Petroleum transfers participating interests in three development assets (Njord, Bauge and Hyme) to Equinor and Equinor transfers participating interests in four producing assets (Ringhorne East, Vilje, Alve and Marulk) to Faroe Petroleum, all on the Norwegian continental shelf. The agreement was signed in Kluge’s offices in Stavanger on the evening of 4 December.
We are pleased to welcome Kjetil Stensvik as the latest addition to our Energy team. Kjetil joined Kluge as partner from 1 August 2018, coming from the position as Head of General Counsel Office in Equinor ASA.
Associate Partner Linn Hoel Ringvoll and Partner Snorre Haukali has contributed to Global Legal Group's publication on Project Finance.
Neptune Energy Group ("Neptune") announced on 28 June 2018 that it has entered into a Sale and Purchase Agreement to acquire 100 % of the shares of VNG Norge AS ("VNG Norge") from VNG AG, the German natural gas wholesaler and energy service provider.
Our office in Stavanger will move to Herbarium in the first quarter of 2020, a new landmark building in the heart of Stavanger. Herbarium is the largest city development project in the center of Stavanger in 50 years. The project is led by Øgreid Eiendom.
We have the pleasure of inviting you to our Drinks Reception in connection with ONS 2018. The event will take place at NB!Bar in Stavanger - located on the quay side in the centre of Stavanger.
On 3 May 2018 the Norwegian Ministry of Foreign Affairs hosted its annual meeting on Norwegian export control and sanctions. On the meeting the ministry gave an update on their priorities in 2018. In this newsletter we have summarised what we see as the most important matters from this years meeting.
On 8 May 2018, President Trump announced that the United States will be withdrawing from the Joint Comprehensive Plan of Action (“JCPOA”), also known as the Iran nuclear deal. The announcement came ahead of a May 12 deadline for the renewal of a key sanctions waiver.
Kluge has been one of Norwegian Refugee Council's main collaborating partners since 2012, and recently the cooperation was extended for three new years.
On 21 August 2017, the Bellona Foundation (“Bellona”) lodged a complaint with the EFTA Surveillance Authority (“ESA”) alleging that the cash reimbursement of the tax value of exploration costs constitutes illegal state aid under Article 61 of the EEA Agreement.
