OPINION: The tail end of 2021 was a veritable firecracker for Norway’s oil and gas sector, with some lively business on the mergers and acquisitions front.

First Sval Energy, the oil and gas arm of private equity group HitecVision, moved to acquire most of the Norwegian assets of Spirit Energy, a spin-off of UK gas player Centrica that subsequently partnered with Germany's Bayerngas Norge, in a deal worth more than $1 billion.

This was followed by a $14 billion move by Norway-based Aker BP for Sweden's Lundin Energy.