APA 2020: Two licenses to M Vest Energy

On 19 January, the Ministry of Petroleum and Energy (MPE) offered 30 companies shares in a total of 61 production licenses on the Norwegian continental shelf in allocation in predefined areas (APA 2020).

– For everyone in M ​​Vest Energy, it is perceived as a declaration of confidence that both our applications were granted by the MPE in this award round. This confirms the professionally high level in the college in M ​​Vest, and we are pleased that the authorities have agreed with our analyzes in the application process, says Susanne Møgster Sperrevik, director of business development and exploration.

– We are particularly pleased with this year’s allocation, both in terms of areas, ownership interests and partnerships. This time we have had a special focus on exploration in the Norwegian Sea where we see several interesting opportunities that can both be brought to production quickly, and also add reserves to the gas pipeline Polarled where M Vest Energy recently acquired a 5% stake, Sperrevik emphasizes.

The licences at a glance: 

PL 1116

The license is located on the Halten Terrasse just south of the Mikkel field and includes parts of blocks 6407/5 and 6. The license contains a number of prospects in addition to the already proven Cortina discovery (6507 / 5-2 S). The Cortina well was drilled in 2011 and proved gas / condensate in sandstones of Middle Jurassic as well as of Upper Jurassic age. Going forward, the license partners will focus on investigating adjacent prospectivity, as well as investigating whether there may be economics in expanding already proven volumes.

The partnership consists of OKEA (60%, operator) and M Vest Energy (40%).

PL 1130

The license is located at the Nyk High in the Vøring Basin, just north of the Aasta Hansteen field and includes parts of blocks 6707 / 8,9,11 and 12. The prospectivity is mainly located in Cretaceous sandstones, similar to those produced from in the Aasta Hansteen field. In addition, opportunities have been identified in both younger and older reservoir zones. The license is located in a typical gas province and given a future discovery, Polarled is a natural candidate for gas transport. The Vøring Basin has long been a focus area for M Vest Energy who holds, among other assets, 25% in the neighboring license PL 528/528 B, where the Ivory discovery is being considered for development.

The partnership consists of INPEX Norway (60%, operator), Wintershall Dea (20%) and M Vest Energy (20%).