OKEA takes stake in the Brasse play in Norway

Norway

TRONDHEIM, December 30, 2022 – OKEA has purchased a 50% stake in the offshore Brasse licence in Norway with plans to fast track development, the Norwegian independent announced on Thursday.

The agreement with fellow oil and gas player DNO Norge will see the two work together to unlock the 30 million boe of estimated recoverable reserves in the PL740 concession.

The play is located in the North Sea in water depths of 120 metres. It is 13 kilometres south of the OKEA-operated Brage field and 13 kilometres southeast of the Oseberg Field Center.

The discovery was first made in 2016 followed by four exploration wells between 2017 and 2019.

The transaction comes at zero cost to OKEA and is subject to the licensing and approval of the government.