Staff transfer from Shell to Okea on their contracts of employment and with full continuity of service.
Okea also said it had launched a $180 million, 5-year, fully underwritten
senior secured bond to help finance the deal.
Okea has a 55 percent stake in Grevling after selling 15 percent to UK's Chrysaor in
March, while Norway's state-owned Petoro has 30 percent.
Okea also said Repsol's Yme field re-development project,
where it holds a 15 percent stake, was on track to start production in the first quarter of 2020.
It was made possible by good collaboration between Shell and Okea and with constructive dialogue with the Norwegian Authorities',
said Rich Denny, Managing Director of A/S Norske Shell.
For Okea, co-founded by the county's former oil minister
Ola Borten Moe in 2015, the deal provides the first sizable stakes in a producing field on the Norwegian continental shelf.
For Okea, co-founded by the county's former oil minister
Ola Borten Moe in 2015, the deal provides the first sizeable stakes in a producing field on the Norwegian continental shelf.
A number of private-equity backed firms, including Okea, and independent oil firms Aker BP and DNO,
have this year said they were looking to buy more assets on the Norwegian continental shelf.
Okea has a tiny stake in Aker BP-operated Ivar Aasen field,
and a 15 per cent interest in Repsol-operated Yme field, which is expected to start producing oil again in late 2019.
Okea also said it is considering installing
a jack-up rig with a floating storage and offloading facility, or a wellhead platform, and that its aim is for a per-barrel break-even price below $35-40 when production starts in 2020-22.
The Anglo-Dutch company agreed to sell to Okea, a Norwegian producer backed by private equity firm Seacrest Capital,
its 45 percent interest in the Draugen Norwegian offshore field and a 12 percent in the Gjoa block for a total of $566 million, the two companies said.