Bids have been submitted for two major asset sales in Norway, with valuations understood to be higher than anticipated amid a discernible increase in merger and acquisition activity in the country’s oil and gas sector, according to several sources.

Offers have been submitted for Canadian company Suncor’s Norwegian interests and, in parallel, bids are in for an Equinor asset package that includes the state-controlled company’s holding in the Ekofisk area and a 19% stake in the Martin Linge field.