Okea plans to acquire a minority stake in the Ivar Aasen oil field from OMV Aktiengesellschaft, according to sources reported by Sysla.

Located in the Norwegian North Sea, the field is anticipated to produce more than 200mmbbl of oil.

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The Ivar Aasen field is currently owned by Statoil Petroleum AS (41.47%), Det Norske Oljeselskap ASA (34.79%, operator), Bayerngas Norge AS (12.32%), Wintershall Norge ASA (6.46%), VNG Norge (3.02%), Lundin Norway AS (1.39%) and OMV (Norge) AS (0.55%).

"The deal will allow Karoon to expand its oil and gas assets portfolio in the Santos Basin, offshore Brazil."

The deal will allow Okea to extend its oil and gas assets portfolio in Norway.

Farstad Shipping has disposed its Lady Sandra anchor-handling tug supply vessel (AHTS).

Built in 1998, Lady Sandra is a 2,752dwt vessel with a gross tonnage of 2,599t.

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Farstad Shipping’s fleet now constitutes 28 AHTS vessels, 22 PSVs and six subsea vessels.

Karoon Gas Australia subsidiary Karoon Petroleo & Gas has agreed to acquire the remaining 35% stake in five oil and gas blocks in the Santos Basin, offshore Brazil, from Pacific Exploration & Production Corporation.

The deal implies a purchase consideration of up to $20.5m, which will be funded through a combination of upfront cash and deferred contingent payments.

The five blocks extend over an area of 865km² at an average water depth of 400m.

The deal will allow Karoon to expand its oil and gas assets portfolio in the Santos Basin, offshore Brazil.