Norway’s elevation to being a sought-after location for acquiring oil and gas production has seen the UK company Kistos Holdings announce today a takeover agreement of a Norwegian producer.

Fiscal uncertainty in countries like the UK and Netherlands is a concern for small and medium-size companies in Europe seeking growth through acquisitions.

Kistos’ planned acquisition of Norway’s Mime Petroleum came about after it had evaluated several transactions in the UK and Dutch sectors, “but the imposition of punitive windfall taxes and a lack of fiscal certainty have meant that both countries remain difficult places to commit capital and ensure continuity of shareholder returns”, said Andrew Austin, Kistos’ executive chairman.