Pandion announced on 16 April 2019 that it has agreed a deal with Equinor to acquire its 20% interest in PL 263 D and PL 263 E. PL 263 E is a new licence that will be carved out from PL 263. The PL 263 D and PL 263 E licences are located in the Haltenbanken area in the Norwegian Sea in blocks 6407/1 and 6507/10, respectively. PL 263 D was awarded in APA 2017. Equinor is currently maturing the Appolonia prospect which could be incorporated to Equinorâs drilling program for 2020, subject to a positive drill decision. The deal is subject to government approval and completion of the carve-out of PL 263 E from PL 263.  The annual APA rounds are designed to enhance exploration activity in mature areas where smaller discoveries can make use of existing infrastructure for fast-track development. The rounds have proven particularly popular in recent years with the newer companies to the NCS which bring fresh new thinking to these much-explored areas. The APA system has resulted in quicker circulation of acreage, increased exploration activity in mature areas and a more diverse mix of companies working on the NCS.  Following completion of the deal interest in PL 263 D and PL 263 E will be held by Equinor Energy AS (50% + operator), Spirit Energy Norway AS (30%) and Pandion Energy AS (20%).
Norway, PL 263 D