Shell has exited PL958 and assigned its 50% operated stake to OKEA, effective from 31 January 2019. PL958 covers 809 sq km over Norwegian Sea blocks 6408/4 & 6408/7. The acreage contains one dry NFW 6408/4-1 (1988, Conoco, 2,725m) which encountered water bearing reservoir in the Jurassic Fangst Group and Triassic Tilje Formation. The licence was awarded to Shell, VNG and Petoro on 22 June 2018 in the 24th Round with an option to acquire 3D seismic or drop the licence after one year, followed by a drill or drop decision in June 2022. Neptune Energy Group entered PL958 when it purchased VNG Norge AS for an undisclosed consideration on 4 December 2018. OKEA had earlier acquired Shell's 44.56% operated interest in Draugen Field, located 15km W of PL958, plus 12% partner share of Gjoa Field in the North Sea, for NOK 4.52 billion (US$ 526 million) on 30 November 2018. Revised PL958 partners are OKEA AS (50% + Op), Neptune Energy Norge AS (30%) and Petoro AS (20%)
Norway, PL 958