OKEA takes stake in the Brasse play in Norway
Norway 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.
Recent Posts
Iberdrola to triple offshore wind assets to $18 billion
Spain's Iberdrola plans to triple its offshore wind assets in the coming years, bringing their value to USD 18 billion,… Read More
Angola’s Azule Energy awards Saipem $850-million contract
Saipem has been awarded a USD 850-million contract for subsea works in Angola by local BP-Eni joint venture Azule Energy,… Read More
Arrow Exploration spuds new well in Colombia
Arrow Exploration has spud a new production well on the Tapir block in Colombia’s Llanos Basin, the company announced on… Read More
Petronas makes discovery off Suriname
Petronas has made a third oil and gas discovery in Suriname's offshore Block 52, the Malaysian company announced on Wednesday Read More
Japan’s JERA slates $32 billion for LNG, renewables, new fuels
Japanese power generation player JERA on Thursday announced plans to invest USD 32 billion in LNG, renewables and new fuels… Read More
Chevron planning UK North Sea exit
Chevron is planning to exit its North Sea operations after 55 years of activity in the oil hotspot, Reuters reported… Read More