The NPD confirmed on 10 January 2020 that Idemitsu has farmed-in to PL 882, taking 10% interests from both Concedo (on 20 December 2019) and Petrolia (on 31 December 2019). PL 882 covers a 188 sq km area over parts of blocks 33/6 and 34/4 to the northwest of Snorre. A well will be drilled by operator Neptune on the Dugong prospect in mid-2020.   Dugong exploration well 34/4-15 S will be drilled using the âDeepsea Yantaiâ S/S. The wellâs objectives are the Upper Jurassic Intra-Draupne Formation and the Middle Jurassic Brent Group. TD is planned at 3,740 m (3,647 m TVD). If a potential sidetrack is drilled (TD 3,790 m / 3,565 m TVD) operations could last for up to 97 days.   The PDO for Equinorâs Snorre Expansion Project (Snorre 2040) was approved in July 2018. The project aims to increase the fieldâs recovery rate from 46% to 51% by producing a further 195 MMbo and extending field life beyond 2040. At a total estimated cost of NOK 19.3 billion (USD 2.31 billion) the development includes six subsea templates each with four wells. Of the 24 new wells half will be producers and the other half will be used for alternating water and gas injection. The templates will be tied back to Snorre A where upgrades will take place (to receive production and provide injection gas and water). First oil is expected in Q1 2021.  PL 882 is operated by Neptune Energy Norge AS with 40%. Concedo ASA, Idemitsu Petroleum Norge AS and Petrolia NOCO AS are partners, holding 20% each.
Petrolia NOCO (->20%, Neptune 40% op.) and Concedo (->20%) each transferred 10% equity in PL 882 to Idemitsu Petroleum.