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  • Pandion Energy acquires license interests from Wintershall DEA
    édité le 05/01/2021 - Plus de news de "Pandion Energy" - Voir la fiche entreprise de "Pandion Energy"

Pandion Energy acquires license interests from Wintershall DEA
Pandion Energy AS (Pandion Energy) has entered into an agreement with Wintershall DEA Norge AS (Wintershall DEA) to acquire a 2.5 percent interest in PL 820 S and a 15 percent interest in PL 617. Through this transaction, Pandion Energy increases its interest in PL 820 S to 12.5 percent.

In March, Pandion Energy announced the results from exploration drilling in PL 820 S. Wells 25/8-19 S and 25/8-19 A proved hydrocarbons at five different intervals with the Iving discovery in the Skagerrak Formation being the most prominent with recoverable resources estimated to between 12 and 71 million barrels of oil equivalent. The operator, MOL Norge AS (40 percent), is together with partners Lundin Energy Norway AS (40 percent), Pandion Energy (10 percent before acquisition) and Wintershall DEA (10 percent before sale) planning an appraisal campaign in 2021. The license is located in blocks 25/7 & 8, north-northwest of the Balder and Ringhorne fields.

PL 617 contains the Eidsvoll prospect and is located in block 2/9, east-northeast of the Valhall & Hod fields where Pandion Energy holds a 10 percent interest. The operator, MOL Norge AS (40 percent), is together with partners OMV (Norge) AS (30 percent) and Wintershall DEA (30 percent before sale) planning to drill the Eidsvoll exploration well in 2021.

The transaction is subject to customary conditions for completion, including approval by the Norwegian Ministry of Petroleum and Energy.

Effective date for the transaction is 1 January 2021.

About Pandion Energy

Pandion Energy is a private oil and gas company with interests in licenses on the Norwegian continental shelf (“NCS”), headquartered in Oslo. The company was founded in November 2016 to perform a management buyout of the operational platform and licenses of Tullow Oil Norge AS.

About Wintershall Dea

Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.

Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs around 2,800 people worldwide from over 60 nations.

Origine : Communiqué Pandion Energy

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