The PL 636 license partners have earlier today submitted the development plan for the Duva project (formerly known as Cara discovery) in the Norwegian sector of the North Sea to the Ministry of Petroleum and Energy. Pandion holds a 20% interest in the Duva project.
The Duva field will be developed as subsea tie-back connecting to the nearby Gjøa platform. Duva’s recoverable reserves are estimated at 88 million barrels of oil equivalents and is expected to yield around 30 thousand barrels of oil equivalent per day at maximum production. First production from the project is expected in late 2020/early 2021.
Jan Christian Ellefsen, CEO of Pandion Energy, commented: “The submission of the Duva PDO represents a significant milestone for Pandion Energy, as this was the first discovery in our portfolio following the prequalification of Pandion Energy as a licensee on the Norwegian continental shelf around two years ago. There has been material reserves uplift since Pandion acquired its 20% share in the project in 2017 with an increase in recoverable resources by more than 50%. The development of Duva field will significantly contribute to the production ramp-up for Pandion Energy in the coming years.”
Developed with a four-slot subsea template, the Duva field will be tied back to the Gjøa platform for processing and export. The field will have three production wells, two oil producers and one gas producer, with the possibility of an additional oil producer.
The Duva field is located 6 kilometres northeast of the Gjøa field (12 kilometres from the Gjøa platform). The discovery was made in production license 636 in August 2016.
Other licensees in the Duva project include Neptune Energy Norge (30% licensee and operator of both the Duva project and the Gjoa platform), Idemitsu Petroleum Norge (30%), and Wellesley Petroleum (20%).
For more information: See [press release by Neptune Energy]
Pandion Energy has recently embarked on the process of digitalization of its subsurface capabilities through applying new digital solutions to geological and geophysical data. The objective is to drive innovation and enhance efficiency in the exploration for oil and gas on the NCS.
This work has been motivated by Kerogen Capital, the company’s financial backer, selecting Pandion Energy as their first pilot case for developing an advanced digital subsurface platform (KAI) as part of their wider investments into energy technology under Kerogen Digital Solutions. As part of this, Pandion Energy has partnered with Computas and Google and mobilized a dedicated team comprising machine learning, datascience and geoscience experts for its digitalization effort.
“We believe these partnerships will be very beneficial for all parties, sharing innovation and agility as two important drivers for our digital venture”, says Jan Christian Ellefsen, CEO of Pandion Energy.
Being the first non-operator partnering with Google on the NCS, he further states he believes Pandion Energy is an attractive partner recognized for it’s subsurface expertise and lean decision making processes, demonstrated by the Company’s rapid growth since inception. These are characteristics that will enable swift testing and implementation of new digital solutions. Being backed by Kerogen Capital represents further opportunities with regard to cooperation and sharing across the industry.
“Pandion has always had a holistic approach to our exploration activities. Having Kerogen to select us as their first pilot case for developing an advanced digital subsurface platform, also reflects on the potential in digitalization on the NCS”, adds Ellefsen.
For more information: See Pandion Energy partners with Computas and Google
Pandion Energy awarded two new APA LicensesPandion Energy has been awarded two licenses under the 2018 Norwegian APA (Awards in Pre-defined Areas) License Round on the Norwegian Continental Shelf.
The APA award was announced by the Minister of Petroleum and Energy (MPE), Kjell-Børge Freiberg on Tuesday 15. January. For more information about APA 2018 see MPE’s website.
Pandion Energy has been awarded the following licenses:
License PL 985 (blocks 25/5, 6, 8 and 9) is located in the Central North Sea, north and east of the Ringhorne and Jotun Fields, respectively. Pandion Energy considers this to be an interesting area for exploration near infrastructure and acquired last year a participating interest in PL 820 S, southeast of the awarded area, where a well is planned to be drilled during 2019. Pandion Energy has been offered a 20% participating interest in PL 985.
License PL 636 B (blocks 36/7) is additional acreage to PL 636, where the license partners are planning to submit a Plan for Development and Operation (PDO) for the Cara discovery within a short time. The license is located on the Måløy slope, east of Gjøa field in a strategic core area for Pandion Energy. Pandion Energy has been offered a 20% participating interest in PL 636 B.
“The APA licensing rounds are important to us, and we have as previous years applied in selective areas where we see an attractive resource potential. We are pleased to get these awards and look forward to commencing the work on our new licenses”, says Jan Christian Ellefsen, CEO of Pandion Energy.
Pandion Energy awarded two new APA Licenses
