- Business
- Hermana Holding ASA Hermana Holding ASA is a Norway-based investment and royalty company that holds, manages and operates royalties focused on assets in resource-based Nordic economies; it engages in manufacturing, trade and activities related to energy, intangible rights and raw materials, including investments in licenses, businesses, securities and financial instruments such as royalties or streams. The company generates current revenue primarily from FPSO design royalties, including licensing technology rights to Dana Petroleum (transferring to NEO Energy) for the Western Isles FPSO at USD 0.5 per barrel over the asset's life and milestone payments tied to the Shell Penguins FPSO via legacy streams from Sevan Marine ASA and Magnora ASA Magnora ASA; it seeks additional opportunities in equity, royalties and growth ventures with a pragmatic, opportunity-driven approach to capital allocation. Incorporated in 2023 and headquartered in Oslo, Norway, Hermana Holding ASA listed on the Oslo Stock Exchange in June 2024 following its spin-off from Magnora ASA; recent developments include receiving NOK 44.9 million in May 2025 settling half of a demerger receivable from Magnora ASA, a USD 4.3 million milestone payment in October 2025 for the Shell Penguins FPSO's first 4 million barrels produced, and evaluating approximately 20 potential investments in Q3 2025 while maintaining low operating costs and a tax loss carryforward of NOK 417 million.