E.ON has signed an agreement to sell all its shares in E.ON E&P Norgein Norway to DEA Deutsche Erdoel. The transaction value is USD 1.6 billion, including USD 100 million in cash on the balance sheet effective January this year. E.ON E&P Norge holds the Norwegian portfolio of E.ON’s oil and gas upstream business in the North Sea and controls equity interests in 43 licenses including a 28% interest in the Skarv field and a 30% interest in the Njord field.