DEA secures attractive prospect and a potential future development in the Norwegian Sea by aligning PL 211 licence partners and equities with the Dvalin licence.
The promising Dvalin North exploration prospect (formerly Henry) in the PL 211 licence is located only 10 km north of the Dvalin field. DEA became the sole owner of the licence in September 2018.
This month, DEA, Edison Norge AS and Petoro signed deals that align partners and equities in PL 211 with the DEA operated Dvalin development. This simplifies a potential future development.
“This opens up a unique opportunity in an important area for DEA. Going forward, the aim is to mature the Dvalin North prospect and plan for an exploration well in 2020. A successful well gives us the opportunity to bring additional resources into the Dvalin development and further strengthen DEA's presence in the Norwegian Sea", says Jon Sandnes, Managing Director of DEA in Norway.
The PL211 transactions are dependent on approvals from authorities and are expected to be completed by 1st July, 2019.
PL211 and PL 435 Dvalin partnership: DEA Norge AS, operator (55%), Petoro (35%) and Edison Norge AS (10%).