Orcadian extends Elke license in North Sea

Orcadian Energy announced that Phase B of the P2482 license, which contains the Elke and Narwhal discoveries, has been extended until 14 July 2027.

Extension of the license will enable Orcadian and Ping Petroleum to explore the optimum area development plan with the North Sea Transition Authority. Ping continues to progress development planning work and is working with SNF and Heriot-Watt University to optimize the polymer flood approach. Orcadian has an 18.75% “carried-to-first-oil” interest in the development.