Pandion Energy has been awarded five licenses under the 2020 Norwegian APA (Awards in Pre-defined Areas) Licensing Round on the Norwegian Continental Shelf.

Pandion Energy has been awarded the following licenses:

 - License PL 1108 in block 35/9 is located on the Måløy slope, west of the Gjøa field and north-east of the Nova field. Pandion Energy has considerable experience in this area, including the Duva field development project. Pandion Energy has been offered a 30 percent participating interest in PL 1108

 - License PL 1119 in blocks 6406/2,3,5 & 6 is located in the central part of the Halten Terrace, adjacent to the Tyrihans Sør, Trestakk and the Lavrans fields, as well as multiple discoveries. Pandion Energy has been offered a 20 percent participating interest in PL 1119.

 - License PL 263 F is additional acreage to PL 263 D/E located in the Norwegian Sea. The PL263 D/E license announced a minor gas discovery in exploration well 6407/1-8 S in November 2020. Pandion Energy holds a 20 percent interest in the license.

 - License PL 820 SB is additional acreage to PL 820 S, located in the central part of the North Sea, northwest of the Balder and Ringhorne fields. In March 2020, the partnership announced the discovery of oil and gas in exploration well 25/8-19 S, including two sidetracks. Pandion Energy holds a 12.5 percent interest in PL820 S of which a 2,5 percent interest was acquired in December 2020 and is pending completion.

 - License PL 891 B is additional acreage to PL 891, located in the central part of the Norwegian Sea, north of Heidrun. In December 2020, the partnership announced a significant oil discovery in exploration well 6507/5-10 S. Preliminary estimates place the size of the discovery between 75 to 200 million barrels oil equivalent. Pandion energy holds a 20 percent interest in the license.

VP Exploration and Appraisal of Pandion Energy, Bente Flakstad Vold comments:

“In addition to expanding our exploration portfolio we have secured strategically important acreage surrounding the discoveries Pandion has taken part in during the past year, further strengthening our position in areas where we see additional upside potential.”

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.