By Frank Prenesti
Date: Tuesday 06 Aug 2019
LONDON (ShareCast) - (Sharecast News) - Cairn Energy said it was selling a 10% interest in the Nova development offshore Norway to ONE-Dyas Norge for $59.5m.
The oil explorer said it would keep a participating interest of 10% in the development and reduce its capital expenditure to the end of 2021 in the Nova area by around $110m. Cairn said it would use the deal proceeds to fund group exploration and development activities.
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