On 16 July 2019 OKEA tendered its resignation of operatorship (pending management approval) from PL 973. The APA 2018 licence, covering a 166 sq km area over the central part of block 15/12, was awarded in March 2019. It contains three oil prospects (Jerv, Ilder and Mar) which could be drilled in 2020 / 2021 if the partnership moves past the initial two-year drill-or-drop phase. OKEA had previously stated that these were potential tie-back options to its adjacent Grevling development to the north. It is assumed that operatorship will be transferred to partner Chrysaor which operates the UK licences immediately west of PL 973, although Chysaor is not yet pre-qualified as an operator on the NCS.  Jerv is a Paleocene Ty Formation prospect with a 57% chance of success and potential recoverable reserves of 60 MMboe. It could be drilled in 2020.  Ilder is a Middle Jurassic Hugin Formation prospect with a 34% chance of success. Recoverable reserves could be 40 MMboe and drilling may take place in 2021.  The Mar prospect also has a Hugin Formation target. Chance of success is lower at 18%, but potential recoverable reserves are 70 MMboe. It could also be drilled in 2020.   Chrysaor holds 100% of the Armada area (Drake, Fleming, Hawkins, Maria, Seymour) across the border in the UK.  Before any change of operatorship is effective, interest in PL 973 is held as follows: OKEA ASA (30% + operator), Chrysaor Norge AS (50%) and Petoro AS (20%).
Norway (South Viking Graben (Viking Graben Province)) Maria