On 25 July 2018 the NPD announced that Wellesley has exited PL 248 J and transferred its remaining 10% interest to Cairn, through its subsidiary Capricorn with effect from 30 June 2018. The licence was created on 18 December 2017 after the northeasterly part of PL 248 C was split into two new licences (the second licence created was PL 248 I). PL 248 J lies to the north of Byrding. Capricorn became operator of the licence at the time by acquiring Statoilâs (now Equinor) 30% interest.  Equinor operates the Byrding field and it started production in July 2017. It has been developed using a dual-branch multilateral well drilled from the Fram H North subsea template. The wellstream is piped to Troll C for processing and from there the oil is transported to Mongstad and the gas to Kollsnes via Troll A. Byrding has recoverable reserves of 11 MMboe and is expected to have an 8-10 year life.    Following completion of the deal interest in PL 248 J is now divided between Capricorn Norge AS (60% + operator) and Petoro AS (40%).
Wellesley has exited PL 248 J and transferred its remaining 10% interest to Cairn, through its subsidiary Capricorn 