OKEA farms into Tverrdal exploration well in the North Sea

OKEA entered into an agreement with Aker BP to acquire a 35% working interest in the southern part of PL1102/PL1102B, containing the Tverrdal prospect. Effective date of the transaction is 1 January 2025.

The farm-in strengthens OKEA’s position in the greater Brage area as Tverrdal is located approximately 13 km north of the Brage platform. Tverrdal is operated by Aker BP and is scheduled for a drill-or-drop decision in May 2025.

The PL1102/1102B licensees are applying for a division of the licenses in a northern and southern part. The agreement with Aker BP is to acquire a 35% WI in the southern part, subject to governmental approval of the division.

Other partners in the licenses are Aker BP (20% WI post-transaction), DNO (30% WI), Equinor Energy AS (15% WI) and OKEA (35% WI post transaction).