Pandion lines up deals for two North Sea licences

Pandion Energy has an agreement to acquire 2.5% and 15% stakes from Wintershall Dea in Norwegian North Sea licences PL 820 S and PL 617.

Subject to government approval, the transaction would lift Pandion’s interest in PL 820 S to 12.5%.

In March 2020, operator MOL Norge discovered hydrocarbons with two wells on the Iving prospect in the Skagerrak formation.

MOL and its partners plan follow-up appraisal this year on the field, thought to hold 12-71 MMboe recoverable. The location is north-northwest of the Vår Energi-operated Balder and Ringhorne fields.

PL 617, containing the Eidsvoll prospect, is east-northeast of the Aker BP-operated Valhall and Hod fields in which Pandion has a 10% interest.

MOL also operates this licence and is looking to drill Eidsvoll during 2021.

Source: Offshore Magazine