Sale and Leaseback agreement for OKEA’s operation centre in Kristiansund

OKEA has entered into a Sale and Leaseback (S&L) agreement of OKEA’s regional headquarter Råket 2 in Kristiansund, where OKEA’s operation centre is located. Råket 2 was acquired as part of the transaction with A/S Norske Shell in 2018, which also inter alia included a 44.56% interest in the Draugen licence and a 12% interest in the Gjøa licence.   

The S&L agreement is based on OKEA leasing the property for 20 years with additional extension options for OKEA for up to 10 years. The sale price amounted to NOK 109 million and the effective date is 16 December 2021.

The buyer is Råket 2 AS, a fully owned subsidiary of Asset Buyout Partners AS (ABP), a leading investor and developer of industrial real estate and infrastructure in Norway.

“We are pleased to enter into this long-term agreement with ABP. The Sale and Leaseback arrangement supports OKEA’s strong foothold in Kristiansund and releases capital for further investments in our core activities or distributions to shareholders”, says Birte Norheim, CFO of OKEA.