Norwegian oil and gas company Pandion Energy has entered into an agreement to sell its participating interests in three assets comprising seven production licenses…
Norwegian oil and gas company Pandion Energy has entered into an agreement to sell its participating interests in three assets comprising seven production licenses on the Norwegian Continental Shelf (NCS) to Inpex Idemitsu Norge, owned by Japan’s Inpex.
The transaction includes Pandion Energy’s 10% participating interest in the producing Valhall and Hod fields (PL006B, PL006G, PL033 and PL033B); 20% participating interest in the Slagugle discovery (Pl 891 and PL 891B); and 20% participating interest in the Mistral discovery (PL1119).
The assets have been core to Pandion Energy’s strategy of creating value through active ownership in high-quality projects close to existing infrastructure.
With this transaction, Pandion Energy expects to realize significant value and further strengthen its ability to invest in the next phase of portfolio development.
“This agreement marks a natural next step for Pandion. We have successfully delivered on our strategy of identifying and maturing quality assets, and this divestment allows us to crystallize value and focus our resources on our remaining portfolio. That includes the producing field, Nova, and the development of Ofelia in the Greater Gjøa Area, as well as other high-potential assets in our portfolio,” said Jan Christian Ellefsen, CEO of Pandion Energy.
Pandion Energy acquired its interest
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