OKEA ASA announces that drilling operations on the Equinor-operated Ginny exploration well 6407/9-13 have commenced from the West Hercules rig. The well, in production licence PL1060, targets both an Upper Jurassic (Ginny) and a Middle Jurassic (Hermine) prospect located between the Galtvort and Hasselmus
discoveries.

OKEA holds a 40% working interest in the licence which was awarded in the APA 2019 licensing round. The licence is located NW of the Draugen field which is operated by OKEA (44.56% WI).

‘’This is the first of three exploration wells we will be drilling the coming year, all focussed on near-field exploration near our Draugen and Gjøa producing fields.’’ says Andrew McCann, SVP Subsurface & Wells in OKEA. “This type of exploration is core to OKEA’s strategy of identifying upside potential for our producing assets and a discovery in this area could be developed rapidly through use of existing infrastructure’’, Mr McCann added.

Equinor Energy AS is operator of PL1060 with 31% working interest. The other licensees are Chrysaor Norge AS (20% WI) and Longboat Energy Norge AS (9% WI).

Further announcements will be made, if applicable, when hydrocarbons are encountered, and/or on completion of drilling operations.

About OKEA

OKEA ASA (OKEA, OSE: OKEA) is an independent Exploration and Production (E&P) company and operator on the Norwegian continental shelf with a current production around 16,000 boepd. OKEA targets profitable production growth within the current portfolio combined with an opportunistic approach to M&A.

OKEA ASA is listed on the Oslo Stock Exchange under the ticker “OKEA”.