OSLO, Norway – Pandion Energy has an agreement to acquire 2.5% and 15% stakes from Wintershall Dea in Norwegian North Sea licenses PL 820 S and PL 617.
Subject to government approval, the transaction would lift Pandion’s interest in PL 820 S to 12.5%.
In March 2020, operator MOL Norge discovered hydrocarbons with two wells on the Iving prospect in the Skagerrak formation.
MOL and its partners plan follow-up appraisal this year on the field, thought to hold 12-71 MMboe recoverable. The location is north-northwest of the Vår Energi-operated Balder and Ringhorne fields.
PL 617, containing the Eidsvoll prospect, is east-northeast of the Aker BP-operated Valhall and Hod fields in which Pandion has a 10% interest. MOL also operates this license and is looking to drill Eidsvoll during 2021.