DNO Secures North Sea Gas Offtake and Related USD 500 Million Financing Facility; Adds Arrows to its Quiver
Norway, July 2 -- DNO ASA, the Norwegian oil and gas operator, announced that the Company's wholly-owned Norway operating subsidiaries have entered into an offtake agreement with France's ENGIE SA for DNO's Norwegian gas production and secured a related offtake financing facility with a major US bank for up to USD 500 million.The offtake agreement covers the entirety of DNO's Norwegian gas production post acquisition of Sval Energi Group AS, offers premium pricing and has a tenor of four years as from 1 October 2025.Related to the agreement, DNO has entered into an offtake financing facility with a US bank for up to USD 500 million. Under the facility, DNO is paid, by the bank, the value of up to 270 days of scheduled gas production based o...
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