About M Vest Energy
M Vest Energy AS was founded in 2015. In March 2016 the assets of Atlantic Petroleum Norway AS was bought out by the management, together with investors Trond Mohn and Lars Moldestad.
In December 2016 M Vest Energy was qualified by the Ministry of petroleum and energy as a license holder on The Norwegian Continental Shelf. The company has a long term goal of being a fully functioning energy business with income from production, that will be channeled towards future exploration and development.
Through innovation and special expertise, M Vest Energy will build an energy business using rapid and intelligent practices, in waters dominated by giants.
The Norwegian Continental Shelf (NCS) is a very attractive region to operate in, with considerable exploration potential left, a stable operational environment and a tax regime especially lucrative for exploration opportunities. During the last five years, nearly 6 billion barrels of oil equivalents have been discovered in Norwegian waters and in 2013 The Norwegian Petroleum Directorate increased its estimate of undiscovered resources on The Norwegian Continental Shelf with 15 percent to an estimated total of 17 billion boe.
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The start of a new era for M Vest Energy
M Vest Energy hit jackpot in the Awards in Predefined Areas 2018 (APA 2018) when the Ministry of Petroleum and Energy awarded the Bergen company ownership in four new production licenses.
M Vest Energy was awarded 10 per cent in PL 1019 in the Vøring Basin in the Norwegian Sea, 10 per cent in PL 959B west of Kristiansund and 30 per cent in the neighboring licenses PL 971 and PL 972 (Vette) south of the North Sea. In particular, the latter license is of particular importance for M Vest Energy.