The British energy supplier Centrica has entered into agreements to sell its oil and gas exploration and production business in Norway held by its 69%-owned affiliate Spirit Energy. Spirit Energy’s production licenses in the Statfjord area across the Norwegian and UK Continental Shelves (Statfjord A, B, C integrated production platforms producing around 21 kboe/d) will be sold to Equinor for US$50m plus a contingent payment linked to commodity prices between October 2021 and December 2022. The transaction has a commercial effective date of 1 January 2021 and the consideration payable at closing will be subject to customary adjustments. In addition, Spirit Energy has agreed to sell its other Norwegian operations and assets to Sval Energi, a subsidiary of Norwegian private equity firm HitecVision, for a total consideration of US$1,026m (€904m) in cash. Sval Energi expects to add 40,000 boe/d of production at the closing of the transaction.