Sval Energi has been awarded four new licences in the annual Awards in Predefined Areas (APA) round on the Norwegian Continental Shelf.

The APA awards were announced by the Norwegian Ministry of Petroleum and Energy today, and Sval was awarded four licences as partner.

Jørgen Moe, Senior Vice President for Exploration in Sval, said: “This is a great outcome for us. New and attractive exploration acreage in areas where we own existing infrastructure is an important part of our growth ambition. I am particularly proud that we are awarded two new licences where we included firm exploration wells in the applications. Hopefully, this will lead to new discoveries that can be efficiently developed.”

Sval’s new licences are:

   - PL 043 FS in the North Sea (Sval 19%, Equinor operator)
   - PL 1177 in the North Sea (Sval 30%, Equinor operator)
   - PL 1185 in the North Sea (Sval 20%, Equinor operator)
   - PL 1002 C in the Norwegian Sea (Sval 60%, Vår Energi operator)

Moe said: “Annual and predictable licence rounds are essential for mapping the shelf and maximizing value creation. The APA scheme is the very foundation of exploration activity on the Norwegian shelf and I’m optimistic about the future exploration opportunities in Norway.”

Sval is partner in nine, confirmed exploration and appraisal wells in 2023 and 2024, with three additional wells likely to be drilled in the same period.

About Sval Energi

Sval Energi is a privately owned Norwegian energy company. Backed by the leading energy investor HitecVision, Sval Energi is building a strong portfolio combining oil and gas resources with decarbonisation value chains. Sval Energi aims to be a major Norwegian player in the Norwegian energy sector.