SPE divests its Guinea Bissau subsidiary to PetroNor

Svenska Petroleum Exploration AB (“SPE”) is a Swedish based oil and gas company in offshore exploration and production. PetroNor E&P AS (“PetroNor”) is a Norwegian company listed on Oslo Axess, which also conducts oil and gas exploration and production, with a focus on sub-Saharan Africa.

SPE and PetroNor have entered into an agreement pursuant to which PetroNor aquires all shares in SPE Guinea Bissau AB and thereby assumes the operatorship of certain licenses for drilling in Guinea Bissau. The transaction is subject to Governmental approval.

SPE was advised by Mannheimer Swartling in the transaction.