Pandion buys Røkke share in the Norwegian sea



– With the acquisition of a 30 percent stake in PL842, we are making our first purchase in the Norwegian Sea, says CEO Jan Christian Ellefsen of Pandion Energy.

On the last day of the year, the emerging oil company Pandion Energy announced that it had acquired the 30 per cent shares of Aker BP under license 842 in the Norwegian Sea.

The permit is located in blocks 6608 / 10m11 and 12, northeast of the Norne field.

Ellefsen is very pleased with the takeover.

– The license is located in an opulent part of the Norwegian shelf with different fields and discoveries, and fits well with our strategy to invest in high quality exploration opportunities where we see an attractive risk / reward relationship, he says.

Together with the partners, operator Capricorn Norge AS (40 percent) and Skagen44 AS (30 percent), the intention is to drill an exploration well on the permit in 2019.

So far, Pandion has only secured interests in the North Sea.


Source link