Pandion Energy Completes Duva Stake Sale

December 31, 2019

Norwegian oil and gas company Pandion Energy has completed the sale of its 10 percent non-operated interests in PL 636, comprising the Duva oil and gas field, and PL 686B.

According to Pandion Energy it was previously announced transaction with Solveig Gas Norway AS.

The Duva oil and gas field is located in the northern North Sea and was discovered in the autumn of 2016. The Plan for Development and Operation (PDO) was approved in June 2019 with first production expected in late 2020 / early 2021.

Pandion Energy has also sold 10% non-operated interests in the same licenses to PGNiG Upstream Norway AS. This transaction is expected to be completed early 2020.

Solveig Gas Norway AS operates as an oil and gas company.

Duva oil and gas field (formerly Cara) is located in the Norwegian sector of the North Sea at a water depth of 360m. The field is jointly owned by Idemitsu Petroleum Norge (30%), Neptune Energy Norge (30%, operator), Pandion Energy (20%) and Wellesley Petroleum (20%).



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