Today, the annual Awards in Predefined Areas (APA) round was announced by the Norwegian Ministry of Energy. Sval won two new licences, of which one as operator and one as partner.

Jørgen Moe, Vice President for Exploration in Sval, said: “Getting access to new and attractive exploration acreage – particularly in areas where we have ownership interests in existing infrastructure – is important for our growth ambitions on the NCS. I am proud that we are awarded one operatorship and will cooperate with strong partners in these new licences to reach our goal of making new discoveries that can be efficiently developed.”

Sval’s new licences are:

  - PL 1229 in the Norwegian Sea (Sval 30% and operator, DNO 30%, Wintershall Dea 20% and PGNiG 20%)
  - PL 1225 S in the Norwegian Sea (Sval 20%, Wintershall Dea 50% and operator and Petoro 30%)

Moe said: “The APA scheme is important for the exploration activity on the NCS and I am optimistic about the future exploration opportunities in Norway. Annual licence awards are essential for mapping the shelf, making new discoveries, and maximizing value creation.”

Sval is partner in six confirmed exploration wells in 2024 and 2025.

About Sval Energi

Sval Energi is a Norwegian E&P company with operations on the Norwegian continental shelf. The business had a production of 70,000 net barrels of oil equivalent per day in 2022. Sval Energi is committed to emission reductions aligned with the targets set by Offshore Norge of 50 percent reduction by 2030 and net-zero by 2050, with CCS as a tool in its decarbonisation strategy.