OKEA acquires Aurora discovery interest from Equinor

Norwegian oil company Okea ASA has acquired Equinor Energy AS’s 40% operated working interest in PL195 and PL195 B in the North Sea, which includes the small Aurora gas discovery west of Gjøa oil and gas field.

Okea aims to become operator for the licenses and pursue development of Aurora as a tie-in to Neptune Energy-operated Gjøa (in which Okea holds 12% interest) without further appraisal drilling, which along with the transaction, is subject to approval by the Ministry of Petroleum and Energy. Okea estimates recoverable volumes of 12-28 MMboe. The effective date of the transaction is Jan. 1, 2020.

Partners in the license are Wintershall DEA (25%) and Petoro (35%).