Four licences awarded to OKEA in APA 2022

(Trondheim, 10 January 2023)

(OSE: OKEA) OKEA ASA (“OKEA”) has been offered interests in four new production licences on the Norwegian Continental Shelf, two of which as operator, through the Awards in Pre-Defined Areas (APA) for 2022.

The awards announced today further strengthen OKEA’s portfolio of near-field exploration opportunities around its Draugen, Brage and Gjøa production hubs. The company now has interests in over 16 exploration-focused licences.

The two new OKEA-operated licences are located in the Norwegian Sea and the Northern North Sea, close to our operated Draugen and Brage assets. The third licence, to be operated by Equinor, is located in the Norwegian Sea, west of Njord, while the fourth licence, to be operated by Neptune, is located in the Northern North Sea, south of Gjøa. 

‘’These new awards give OKEA a great opportunity to build further on the near-field exploration activities we have around Draugen, Brage, which is a newly acquired asset for OKEA, and the Gjøa area where we also operate the Aurora discovery’’, comments OKEA VP Exploration, Morten Krogh. ‘In addition, we have added acreage in the Norwegian Sea near our Mistral and Fagn exploration licences’’.

The APA 2022 awards were announced by the Ministry of Petroleum and Energy on
Tuesday 10 January 2023. In total, 47 licences were offered to a total of 25
companies.

For more details on the awards, please see the announcement from the Ministry of
Petroleum and Energy at http://oed.dep.no.

For further information please contact

VP Investor Relations & Communication, Anca Jalba, +47 410 87 988

About OKEA

OKEA ASA is a leading mid- to late-life operator on the Norwegian Continental Shelf (NCS). OKEA finds value where others divest and has an ambitious strategy built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE: OKEA). More information at www.okea.no