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Kluge has advised Wellesley Petroleum AS

Wellesley Petroleum AS has completed the transfer of its 20 % interest in the Duva field to PGNiG Upstream Norway AS.

Photo: Clyde Thomas | Unsplash

The Duva field is an oil and gas discovery in the greater Gjøa area and is under development pursuant to a PDO submitted in February 2019. A Kluge team led by partner Audun Stornes has assisted Wellesley Petroleum AS with all legal aspects associated with the transaction. Associated partner Jone Stakkestad and associate Eirik Aanestad were also part of the Kluge team. The work was initiated in early spring 2019 and the transaction agreements entered into in July 2019.

Wellesley Petroleum AS is backed by a group of institutional investors led by Blue Water Energy.