More companies comment on Norway license awards

Jan. 17, 2020
Two more companies have issued details of their license offers under Norway’s 2019 Awards in Predefined Areas round, announced by the Ministry of Petroleum and Energy earlier this week.

Offshore staff

SINGAPORE/TRONDHEIM, Norway – Two more companies have issued details of their license offers under Norway’s 2019 Awards in Predefined Areas round, announced by the Ministry of Petroleum and Energy earlier this week.

Rex International Holding’s 90% owned subsidiary, Lime Petroleum, secured participating interests in two new licenses in the Norwegian Sea.

PL1061 and PL1062, operated respectively by Wellesley Petroleum and Neptune Energy, are in the Haltenbanken region, close to the producing Åsgard complex and the Heidrun and Midgard fields.

OKEA’s five new licenses strengthen its position around the Draugen and Grevling production and development hubs in the Norwegian Sea and North Sea.

PL 1060, led by Equinor, is northwest of the company’s operated Draugen field and includes the Galtvort gas discovery. Commitments includes a firm well on an identified prospect.

Three of the awards are extensions over prospective areas close to Draugen (PL093), Mistral (PL1003) and Grevling (PL973).

The awards strengthen OKEA’s license portfolio around Draugen, where the company plans to further develop the neighboring area, as well as extending lifetime of the field and its platform, said Andrew McCann, senior vice president Subsurface at the company.

‘’In addition, further exploration opportunities in the Grevling area will strengthen the case to develop an oil production hub there.’’ 

01/17/2020