Pandion Energy awarded two new APA Licenses

16 Jan 2020 Pandion Energy awarded two new APA Licenses

Pandion Energy has been awarded two licenses under the 2019 Norwegian APA (Awards in Pre-defined Areas) License Round on the Norwegian Continental Shelf.

The APA award was announced by the Minister of Petroleum and Energy (MPE), Sylvi Listhaug on Tuesday 14. January. For more information about APA 2019 see MPE’s website.

Pandion Energy has been awarded the following licenses:

License PL 1047 in blocks 30/4, 5, 7 & 8 is located in the central part of the Viking Graben in the North Sea, between the Martin Linge- and Oseberg fields. Pandion Energy has been offered a 20 percent participating interest in PL 1047.

License PL 1062 in block 6507/11 is located at the Halten Terrace in the Norwegian Sea, southeast of the Heidrun field with the Midgard field to the south, and the Natalia discovery to the west. Pandion Energy holds several exploration licenses in the area and the team has experience from previous drilling in this block. Pandion Energy has been offered a 30 percent participating interest in PL 1062.

(License PL 636 C (block 36/7) is additional acreage to PL 636, the Duva field development. The Plan for Development and Operation (PDO) of the Duva field was approved by the MPE on June 26th 2019. Pandion Energy announced on November 7th 2019 that it had agreed to divest its 20% share in the Duva field. The additional acreage will be transferred to the new licensees before being formally awarded.)

CEO of Pandion Energy, Jan Christian Ellefsen says:

Pandion Energy considers the APA Awards an important source of attractive growth opportunities and we are pleased with the awarded licenses. With these licenses Pandion Energy will continue building a focused portfolio in selected areas in accordance with our exploration strategy.

About Pandion Energy:

Pandion Energy AS is a private oil and gas company with licenses on the Norwegian Continental Shelf. The Company’s strategy is to be an active and responsible partner in driving value in high-quality assets, based on a full cycle investment mandate. The Company participates in the discovery, appraisal, development and production of oil and gas resources with a focus on upsides in and around proven assets with access to existing infrastructure.

For more information visit: Pandion press release: Pandion Energy awarded two new APA Licenses