The acquisition of a five percent share in Polarled completed

This summer, M Vest Energy entered into an agreement with CapeOmega to purchase a five percent share in the Polarled gas pipeline. The purchase has now been approved by the authorities and the companies have completed closing. The purchase has been registered in the Petroleum Register. CEO, Jonny Hesthammer, states:

“This is an important milestone for the company. It makes us more robust and gives us a completely different position to grow further. Revenues are tariff-based and therefore predictable. There are always uncertainties associated with such transactions because of the complexities and need for agreements with the seller as well as approvals from the partners in the license as well as the authorities. A final approval of such a transaction is therefore also a statement of quality for the company ».

CEO Jonny Hesthammer and CFO Christian Tveit