OKEA decides to halt further development of Vette discovery due to insufficient financial robustness
OKEA, as operator of the Vette licence (40% Working Interest (WI)), has decided to propose to the licence partners not to develop the Vette discovery further, due to the project’s insufficient financial robustness. OKEA took over operatorship of the licence earlier this year and has been maturing the discovery towards a DG2 decision. OKEA has also worked to improve the economics of the Grevling/Storskrymten discoveries along with the license partners over the last few years. Although significant reductions in break-even cost have been achieved, it is deemed insufficient to warrant a