In reference to the announcement made by OKEA ASA (OSE: OKEA) on 4 November 2022, OKEA has been informed by the operator, Neptune Energy, that hydrocarbons have been encountered in the Calypso exploration well in the Norwegian Sea, located within the PL938 licence.

Having entered the reservoir, logs proved hydrocarbons presence. Additional data gathering of the reservoir will now be considered. The operations in the reservoir section remain at an early stage and it has yet to be confirmed if commercial volumes are present.

The Calypso prospect is located in the Norwegian Sea, 14 kilometres north-west of the Draugen field and 22 kilometres north-east of the Njord A platform.

Calypso is being drilled by Deepsea Yantai, a semi-submersible rig owned by CIMC and operated by Odfjell Drilling.

Partners: Neptune Energy Norge AS (operator, 30%), OKEA ASA (30%), Pandion Energy AS (20%) and Vår Energi ASA (20%).

About OKEA

OKEA ASA (OSE: OKEA) is a leading mid- to late-life operator on the Norwegian continental shelf (NCS). OKEA finds value where others divest and has an ambitious strategy built on growth, value creation and capital discipline. OKEA is listed on the Oslo Stock Exchange (OSE:OKEA).

About Neptune Energy Norge AS

Neptune Energy Norge is a subsidiary of Neptune Energy. The company is the operator of the Gjøa field in the North Sea. It recently opened up two new subsea fields, Duva and Gjøa P1, tied back to the Gjøa platform. Neptune is the operator of the development project Fenja in the Norwegian Sea, and is partner in several producing fields, amongst these are Snøhvit, Gudrun, Njord and Fram. Neptune Energy Norge is a participant in a total of 81 licences. For the full year 2021, Neptune produced 46 kboepd in Norway.