Oil and gas

Oil and gas have transformed Norway into a global energy powerhouse. For more than fifty years, the sector has been Norway’s most significant export, playing a crucial role in powering industries and households across Europe. It has attracted leading expertise, driven technological innovation at a global level, and made Norway’s governance model a benchmark for other nations.

Arntzen Grette has been part of this development from the outset. We advised the first international players on the Norwegian Continental Shelf and have since grown to become a trusted adviser to both energy companies and public authorities. Today, we support clients across the entire value chain – from transactions and development projects to regulatory matters. Nearly fifty years on, we remain one of the most sought-after legal advisers in the sector.

The lawyers are responsive and ready to seek new solutions, and their advice is extremely practical.

Chambers Europe, 2025

We have assisted leading players in the oil and gas industry in a number of key and complex projects, including:

Lundin – advised on the development of the Edvard Grieg field
The Norwegian State – represented in litigation concerning the sale of interests in Gassled
Norwegian development authorities – advised on petroleum law capacity-building in multiple countries
Petoro – lead negotiator for the Johan Sverdrup Unit on Phase II electrification and allocation of capacity to surrounding fields
Energy companies including OMV, Edison, Hess, E.ON and Marathon – advised on acquisitions and disposals on the Norwegian Continental Shelf

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17 February 2023

We maintain strong results in Chambers Global 2023

Yesterday, Chambers Global published its 2023 results, strengthening our individual performance and maintaining our positions at company level. The ranking covers a total of eight areas and we are ranked within seven.

8 April 2022

Newsletter – proposed amendments to the petroleum tax regime

The Government announced on a press conference 31 August 2021 that they would propose amendments to the petroleum tax act. The Ministry of Finance then 3 September 2021 issued a public consultation paper where it is proposed that the rules on depreciation and tax-free income in the special tax for petroleum from 2022 should be replaced by immediate expense recognition of investments (cash flow tax – direct tax deduction). The Ministry of Finance emphasized that the proposed amendment is similar to amendment that entered into force for hydroelectric power with effect for investments made from 2021.

What we have done

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Pandion Energy divests key interests to strengthen focus on growth portfolio

We are pleased to have assisted Pandion Energy in its agreement with INPEX Idemitsu Norge AS to divest interests in the Valhall and Hod fields, as well as the Slagugle and Mistral discoveries on the Norwegian Continental Shelf. The transaction covers seven production licenses.

INPEX Idemitsu Norge has successfully completed the sale of its interests in the Statfjord Øst and Sygna fields to Longboat Japex Norge

On 3 July 2023, INPEX Idemitsu Norge agreed to sell its participating interests in the Statfjord Øst and Sygna fields to Longboat Japex Norge, and on 31 January 2024 the transaction was completed. We are pleased to have served as legal advisors to INPEX Idemitsu Norge in this process.

INPEX Idemitsu Norge is selling production assets to Longboat Energy Norge

We are pleased to have assisted INPEX Idemitusu Norge with the sale of production assets in the Statfjord area to Longboat Energy Norge, for USD 12.75 million.

Arntzen de Besche have assisted Lime Petroleum with the acquisition of a 10 percent working interest in the YME field in Norway

We are proud to have acted as legal advisers to Lime Petroleum in this sale and purchase agreement with KUFPEC Norway AS. Lime Petroleum acquires a 10 percent interest in the producing YME field on the Norwegian North Sea. The total transaction value is USD 68.053 million, and will be paid in cash on completion of the transaction.

Arntzen de Besche have assisted Pandion Energy AS in the merger with Pandion Energy Norge AS (previously ONE-Dyas Norge AS)

We are proud to have acted as legal advisers to Pandion Energy AS in this merger. The merger was approved by the Ministry of Petroleum and Energy on 14 October 2022, and was completed 1 November 2022.

Arntzen de Besche has advised OMV on the sale of the Wisting oil field

OMV, an international integrated oil, gas and chemicals company headquartered in Vienna, Austria, sold its 25 percent stake in the Wisting oil field to Lundin Energy in a transaction that successfully closed before Christmas on 17 December 2021 (see below link to OMV’s press release). We are proud to have acted as OMV’s legal advisor on this transaction.

Arntzen de Besche assisted Lime Petroleum with acquisition in the Brage field

Arntzen de Besche has assisted Lime Petroleum in entering into an agreement to acquire Repsol Norge's interests in the Brage field, on the Norwegian continental shelf. The agreement secures Lime Petroleum 33.84 per cent of the field, and the price will be approximately NOK 356 million at today's price.

The Ministry of Petroleum and Energy has approved a power-from-shore solution for four oil fields - Arntzen de Besche represented Petoro AS and the Johan Sverdrup Unit

On 11 February 2021, the Norwegian Ministry of Petroleum and Energy approved the area solution for power-from-shore to the oil and gas fields Johan Sverdrup, Edvard Grieg, Ivar Aasen and Gina Krog in the southern part of Utsirahøyden on the Norwegian Continental Shelf.

Arntzen de Besche represents Edison Spa in sale of Edison Norge

Edison announced on 30 December 2020 an agreement to sell its Norwegian subsidiary, Edison Norge AS, to Sval Energi AS (backed by HitecVision) based on an enterprise value of USD 300 million and 1 January 2020 as the financial effective date.