OKEA and DNO Norge have agreed to swap interests in two licenses offshore Norway where exploration drilling is imminent.
Pending approval, DNO will transfer 10% of its share in PL 1119 containing the Mistral prospect in the Norwegian Sea, in exchange taking 10% of OKEA’s interest in PL 1109 containing the Horatio prospect.
Each company will carry its relative share of drilling costs for the wells, with no further monetary transactions involved.
The Deepsea Atlantic semisubmersible rig is preparing to spud the Mistral well in the southern Norwegian Sea by year-end 2024. The location is in between the producing Draugen and Aasgard areas.
Equinor is the operator, and Pandion Energy is the other partner. DNO estimates potential volumes at 19 MMboe to 57 MMboe, with drilling likely to continue for 60 days if a discovery ensues.
Horatio, operated by OMV Norge, is 20 km northwest of the Gjøa platform. Drilling is due to start in first-quarter 2025. Other partners are Aker BP and Pandion.
