Stavanger Norway headquartered oil, gas, renewables, carbon capture and hydrogen leader Equinor announced that the acquisition of Spirit Energy’s interest in the Statfjord field was announced 8 December 2021 with a commercial effective date 1 January 2021. The transaction has now been completed after receiving the necessary approvals and the legal transfer was completed by 31 May 2022. As part of closing the transaction, Equinor has received a payment of USD 193 million from Spirit Energy.Equinor had entered into an agreement in December 2021 to acquire all of Spirit Energy’s production licenses in the Statfjord area which spreads across the Norwegian and UK Continental Shelves and are developed by three integrated production platforms Statfjord A, B & C. All licenses are operated by Equinor. Both parties agreed on a total consideration of USD 50 million, plus a contingent payment linked to commodity prices for the period October 2021 to December 2022. The transaction has a commercial effective date from 1 January 2021. Spirit Energy’s daily production from the Statfjord area in the third quarter of 2021 was around 21.000 boe per day.The Statfjord oil field is a large oil and gas field covering 580 square kilometers in the UK Norwegian boundary of the North Sea at a water depth of 145 meters, discovered in 1974 by Mobil and since 1987 operated by Equinor. At peak production it produced over 700,000 barrels of oil per day. Oil is loaded offshore and taken directly to refineries & gas is transported via the Statpipe pipeline to mainland Norway.