Norway’s Ministry of Petroleum and Energy has permitted OKEA’s acquisition of Equinor’s operated 40 per cent working curiosity in PL195 and PL195 B, which embody the Aurora discovery.

Norwegian oil and gasoline firm OKEA mentioned on Thursday that the acquisition of Equinor licenses would have an efficient date on 1 January 2020.

Erik Haugane, CEO of OKEA, mentioned: “As the operator of PL195 and PL195 B, we are going to pursue a low-cost improvement of Aurora“.

To remind, OKEA signed a gross sales and buy settlement with Equinor for the acquisition of Equinor’s working curiosity within the two licences on 15 July 2020.

Location of licenses; Source: OKEA Equinor
Location of licenses; Source: OKEA

The two licenses maintain Aurora which is a small gasoline discovery
within the North Sea situated west of the Gjøa subject. OKEA estimates that the
recoverable volumes are within the vary of 12-28 mmboe.

Apart from the operator of the licenses, companions Wintershall
Dea and Petoro maintain 25 and 35 per cent working curiosity respectively.

At the time, Haugane mentioned that the transaction would
diversify the corporate’s portfolio in addition to strengthening OKEA’s place in
the Gjøa space.

A improvement of Aurora suits proper into the core of OKEA’s technique with low-cost subject improvement of smaller discoveries”, he said.

The put up Norway clears OKEA’s purchase of Equinor’s Aurora discovery appeared first on Offshore Energy.

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