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Pandion Energy Awarded Two New APA Licenses

Source: www.gulfoilandgas.com 1/15/2019, Location: Europe

Pandion Energy has been awarded two licenses under the 2018 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), Kjell-B?rge Freiberg on Tuesday 15 January.

Pandion Energy has been awarded the following licenses:
License PL 985 (Blocks 25/5, 6, 8 and 9) is located in the Central North Sea, north and east of the Ringhorne and Jotun Fields, respectively. Pandion Energy considers this to be an interesting area for exploration near infrastructure and acquired last year a participating interest in PL 820 S, southeast of the awarded area, where a well is planned to be drilled during 2019. Pandion Energy has been offered a 20% participating interest in PL 985.

License PL 636 B (Block 36/7) is additional acreage to PL 636, where the license partners are planning to submit a Plan for Development and Operation (PDO) for the Cara discovery within a short time. The license is located on the M?l?y slope, east of Gj?a field in a strategic core area for Pandion Energy. Pandion Energy has been offered a 20% participating interest in PL 636 B.

'The APA licensing rounds are important to us, and we have as previous years applied in selective areas where we see an attractive resource potential. We are pleased to get these awards and look forward to commencing the work on our new licenses', says Jan Christian Ellefsen, CEO of Pandion Energy.

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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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