okea in A Sentence

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    Staff transfer from Shell to Okea on their contracts of employment and with full continuity of service.

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    Okea also said it had launched a $180 million, 5-year, fully underwritten senior secured bond to help finance the deal.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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    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.

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