PGNiG Acquires Duva Field in Norway
PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to purchase additional 10% interests in the PL636 and PL636B licences in the North Sea.Following the transaction, PGNiG Upstream Norway’s (PUN) interests in both licences increased to 30%. As a result, the volume of Duva field gas production attributable to the Company will rise to 0.2 bcm per year.“Acquisition of fields on the Norwegian Continental Shelf is one of the investment priorities of the PGNiG Group.
Pandion Energy Completes Duva Stake Sale
Norwegian oil and gas company Pandion Energy has completed the sale of its 10 percent non-operated interests in PL 636, comprising the Duva oil and gas field, and PL 686B.According to Pandion Energy it was previously announced transaction with Solveig Gas Norway AS.The Duva oil and gas field is located in the northern North Sea and was discovered in the autumn of 2016. The Plan for Development and Operation (PDO) was approved in June 2019 with first production expected in late 2020 / early 2021.Pandion Energy has also sold 10% non-operated interests in the same licenses to PGNiG Upstream Norway AS.
PGNiG Ups Stake in Duva Field, Norway
PGNiG Upstream Norway bought 10 percent shares in the PL636 and PL636B licenses in the North Sea from Pandion Energy, thus increasing its ownership in the Duva field to 30 percent.Duva oil and gas field (formerly Cara) is located in the Norwegian sector of the North Sea at a water depth of 360m. The field is jointly owned by Idemitsu Petroleum Norge (30%), Neptune Energy Norge (30%, operator), Pandion Energy (20%) and Wellesley Petroleum (20%).“Increasing our share in the deposit, which is close to starting production…
Wellesley Hits Dry Well in North Sea
Norwegian oil and gas exploration company Wellesley Petroleum has drilled another dry well in the Norwegian section of the North Sea, 220 kilometers northwest of Stavanger.The explorer for oil and gas sees second dry well this year with latest probe using semisub Transocean Arctic. "Following last month’s announcement of a dry well in the production license 931, Wellesley has now failed to hit the target at the 25/1-13 wildcat in the production license 871," said a statement.The Norwegian Petroleum Directorate (NPD)…
Wellesley Petroleum eyes 30-40 Norway Licences
Oil company start-up Wellesley Petroleum is aiming to secure a portfolio of around 30 to 40 licences in oil and gas fields off Norway, it said on Wednesday. It plans to participate in around six wells each year, one or two of which it intends to operate, and is looking for "relevant professional staff", it said in an advertisement published in the Norwegian business daily Dagens Naeringsliv. Wellesley Petroleum was set up with the backing of private equity firm Blue Water Energy in 2015 and received approval from the Norwegian Petroleum Directorate (NPD) to hold offshore stakes the same year.
Engie Sheds North Sea Oilfield Stake
France's Engie has sold a 20-percent stake in a North Sea oilfield for an undisclosed sum to Wellesley Petroleum, a Norwegian oil firm with private equity backing, it said on Tuesday. Engie retains a 30-percent stake in the field and the operatorship of the license, called PL 636. The other partners in the field are Japan's Idemitsu with 30 percent, London-listed Tullow Oil with 20 percent and now Wellesley Petroleum with 20 percent. The partners will drill one well in the license this summer, in a prospect called Cara, Engie said. Reporting by Gwladys Fouche
