Pandion Energy has agreed to acquire a 2.5% interest in PL 820 S and a 15% interest in PL 617 in the North Sea from Wintershall DEA Norge AS.
Through this transaction, subject to conditions including approval by the Norwegian Ministry of Petroleum and Energy, Pandion Energy increases its interest in PL 820 S in Blocks 25/7 & 8, north-northwest of Balder and Ringhorne fields, to 12.5%. In March 2020, block operator MOL Norge AS (40%) proved hydrocarbons through wells 25/8-19 S and 25/8-19 at five intervals (OGJ Online, Mar. 18, 2020). The Iving discovery in the Skagerrak formation is expected to hold recoverable resources of 12-71 MMboe. An appraisal campaign is expected this year.
MOL-operated PL 617, in Block 2/9, contains the Eidsvoll prospect and lies east-northeast of Valhall and Hod fields where Pandion holds a 10% interest. The operator plans to drill the Eidsvoll exploration well this year.
