AIP increases its ownership interest in Vestprosess DA in Norway
AIP’s investment platform North Sea Infrastructure (NSI) has entered into an agreement with ExxonMobil Norway Upstream Holdings Inc. to acquire its 10% participating interest in Vestprosess DA.
Vestprosess DA is a pipeline and processing facility for natural gas liquids (NGL) in Norway, located at the Mongstad processing plant. The transaction is expected to close end of Q2 2020, following approval from the Norwegian Authorities, and will bring the NSI ownership to 23% in Vestprosess DA.
About North Sea Infrastructure
North Sea Infrastructure was set up by AIP in December 2017 with an experienced management team from the oil & gas industry as a dedicated investment platform for midstream gas assets on the Norwegian Continental Shelf. NSI holds a 13.7% interest in the Nyhamna JV gas processing plant and now 23% interest in Vestprosess NGL processing facility.
For more information about North Sea Infrastructure A/S and the transaction, please click here