OKEA ASA has been offered interests in four new production licences on the Norwegian Continental Shelf, three of which as operator, through the Awards in Pre-Defined Areas (APA) for 2021.

The awards announced today by the Ministry of Petroleum and Energy further strengthen OKEA’s portfolio of near-field exploration opportunities around its Draugen and Gjøa production hubs. The company now has interests in over 15 exploration-focussed licences.

The three new OKEA-operated licences are located in the Norwegian Sea. The fourth licence, to be operated by Spirit Energy, is located in the North Sea, north-east of the Aurora discovery.

‘’These new awards give OKEA a great opportunity to build further on the near-field exploration activities we have around Draugen, where we are drilling two wells this year, and the Gjøa area where we also operate the Aurora discovery’’, comments SVP Subsurface & Wells, Andrew McCann. ‘In addition, we have added acreage in the Norwegian Sea near our Mistral and Fagn exploration licences’’.

About OKEA

OKEA ASA is a leading mid-to-late-life operator on the Norwegian continental shelf (NCS) with a current target production of 18 000 – 19 000 boe per day in 2022. OKEA finds value where others divest and has an ambitious growth strategy built on accretive M&A activities, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA).