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DNO ASA has continued to high-grade its North Sea portfolio via a set of asset transactions with Orlen Upstream Norway, the corporate introduced Tuesday.
DNO ASA has divested its 7.604% curiosity within the Ekofisk PPF venture (pictured) in licenses PL018B and PL018F on the NCS
The Norwegian operator has divested its 7.604% curiosity within the Ekofisk Beforehand Produced Fields (PPF) venture in licenses PL018B and PL018F on the Norwegian Continental Shelf. The redevelopment venture goals to restart manufacturing from older, shut-in fields, with first oil anticipated in 2029.
In change, DNO has acquired from Orlen a 20% stake in license PL1135, which accommodates the Cassio exploration prospect, in addition to a further 0.8272% curiosity within the Verdande area. Verdande, situated within the Norne space, is in superior growth and scheduled to start manufacturing later this yr. The brand new acquisition lifts DNO’s complete curiosity within the Verdande Unit to 14.8251%, together with the lately introduced swap with Aker BP.
Cassio lies straight north of DNO-operated PL1086, dwelling to the Othello discovery. An exploration properly on Cassio is deliberate for late 2026.
Govt Chairman Bijan Mossavar-Rahmani stated the strikes assist DNO’s technique of prioritizing near-term money circulation and focusing capital on exploration and quick-cycle growth. “Ekofisk PPF covers redevelopment of older, shut-in fields… however we have now chosen to deploy our share of the numerous capital expenditure needed in ways in which play to our strengths,” he stated.
DNO will retain its 7.604% curiosity in PL018, which incorporates the manufacturing Ekofisk, Eldfisk and Embla fields, together with a share of the Tor Unit. All transactions are topic to authorities approval.
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