Petoro has bought OMV’s 20% share in the Dvalin field.
The agreement, for what was formerly known as the Zidane field, will be subject to regulatory approvals.
The company will work in partnership with Dea Norway which also has a stake in the field.
The plan is said to be to build out Zidane with a subsea template with ties to the Heidrun platform.
In June Dea was given an extension of its deadline for what was known then as the Zidane field.
The Norwegian Government had warned the licence could be pulled unless the company had met its target date.
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