Pandion Energy Acquires All Licenses in Tullow Oil Norge

Source: www.gulfoilandgas.com 6/22/2017, Location: Europe

Pandion Energy AS (Pandion Energy) is pleased to announce that the company has been pre-qualified as licensee on the Norwegian Continental Shelf (NCS) and received an approval for the acquisition of all licences in Tullow Oil Norge AS’ existing portfolio including a 20% interest in PL 636 containing the Cara oil and gas discovery. Cara is an attractive discovery located just 6 km northeast of the existing Gjoa infrastructure in the Norwegian North Sea.

“The pre-qualification of Pandion Energy and completion of the transaction with Tullow Oil Norge AS is an important milestone for the company, demonstrating the quality of our organisation and operational platform. Since founding the company in November last year, we have built up a pipeline of investment opportunities spanning from exploration assets to development projects. With all required approvals in place, we are now ready to capture these opportunities through acquisitions, farm-ins and licensing rounds”, says Jan Christian Ellefsen, CEO of Pandion Energy.

Pandion Energy, founded in November 2016, is a private oil and gas company focusing on exploration, appraisal and development opportunities in all parts of the NCS.

The Pandion Energy team has a long track record of technical, commercial and financial success on the NCS, having worked together for almost 10 years at Tullow Oil Norge and its predecessor, Spring Energy. Backed by Kerogen Capital, an international private equity fund manager specialising in the international oil and gas sector, Pandion has a solid foundation for creating value on the NCS.


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Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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