Equinor and Faroe reported on 5 December 2018 that they have agreed an asset swap deal (with no cash consideration) whereby Equinor will gain 7.5% interests in Bauge, Hyme and Njord in exchange for a 32% interest in Alve, a 17% interest in Marulk and its entire 14.82% interest in Ringhorne East and 28.85% interest in Vilje. The deal will be effective from 1 January 2019 and is subject to government approval.  As a result of the deal, Equinor will strengthen its presence in the Njord area where it sees upside potential and is divesting assets which it sees as non-core or which are non-operated. Njord has been offline since 2016 pending a complete upgrade of its facilities as part of the Njord Future project which will add 175 MMboe (including Hyme). Production is scheduled to commence in 2020. Bauge is being developed as a subsea tie-back to Njord and is also due onstream in 2020.  Faroe is getting into two new core areas (around Alvheim and Norne) and its acquired assets have a total estimated net volume of 17.6 MMboe. Consequently, it will increase its production by 7,000-8,000 boe/d in 2019. An exploration well is planned on the Snadd Outer Outer and Black Vulture prospects in the Alve licence (PL 159 B) in 2019.
Equinor and Faroe reported on 5 December 2018 that they have agreed an asset swap deal (with no cash consideration) whereby Equinor will gain 7.5% interests in Bauge, Hyme and Njord in exchange for a 32% interest in Alve, a 17% interest in Marulk and its entire 14.82% interest in Ringhorne East and 28.85% interest in Vilje. 