Wintershall Dea receives promising license awards in Norway
- 16 exploration licenses on the Norwegian Continental Shelf awarded – four as operator
- Strengthened exploration pipeline provides further growth potential
Wintershall Dea has been awarded interest in 16 exploration licenses in Norway, including four as operator. In the APA 2020 (Applications in Pre-Defined Areas) licensing round, Europe’s leading independent gas and oil company secured access to five areas in the North Sea, nine in the Norwegian Sea, and two in the Barents Sea.
The number of awards from the Norwegian Ministry of Petroleum and Energy is almost double the nine licenses secured last year and reflects the commitment the globally active company is making in Norway.
“In 2020, Wintershall Dea had a global exploration success ratio of 65 percent including four discoveries in Norway. Despite last year’s unprecedented challenges, we are clear that Norway remains one of our key exploration regions – in the medium and in the long term. Wintershall Dea put a lot of resources and planning into the application for acreage, and we are proud of the Ministry’s recognition. We will do everything to turn these exploration licenses into a success and by that create value for the Norwegian society and the oil and gas industry on the Shelf,” said Hugo Dijkgraaf, Chief Technology Officer and Board Member responsible for Exploration at Wintershall Dea.
Strategic fit in key exploration areas
The majority of the licenses are situated in core areas for Wintershall Dea, most within tie-back distance of existing infrastructure allowing for a quick value creation with potential discoveries. The other licenses are located in less mature areas where high-impact discoveries could lead to development of new facilities.
“These licenses represent a good spread of opportunities across the length of the Norwegian Continental Shelf. The seven commercial discoveries we made in Norway in 2019 and 2020 show that there is still high potential even in mature areas of the Shelf, which could make a significant contribution towards replacing the reserves that we are producing today,” said Alv Solheim, Managing Director of Wintershall Dea Norge.
Exploration pipeline well filled
With at least seven exploration and appraisal wells scheduled in Norway for 2021, the new APA applications will provide the company with options for 2022 and beyond. Besides replenishing the license portfolio, the awards provide Wintershall Dea with the opportunity to apply new ideas to areas which have been circulated several times in previous license rounds. This strategy has proven successful in the recent operated and non-operated discoveries at Bergknapp, Busta and Iving.
The Ministry awarded a total of 61 licenses to 30 companies in the APA 2020 licensing round. The round comprises blocks in predefined areas in the North Sea, the Norwegian Sea and the Barents Sea.
Wintershall Dea Norge is one of the largest license holders on the Shelf. This latest award will grow the portfolio to over 100 licenses, and underpins that Norway is one of Wintershall Dea’s core areas for growth.
Wintershall Dea licenses in the APA 2020:
PL 1103 (40% operator)
PL 1107 (30%)
PL 1100 (20%)
PL 820 SB (10%)
PL 1110 (30%)
PL 1129 (40%, operator)
PL 836 SB (40%, operator)
PL 1115 (60%, operator)
PL 1122 (20%)
PL 1130 (20%)
PL 1124 (28,0825%)
PL 1120 (20%)
PL 1126 (20%)
PL 1128 (20%)
PL 1132 (40%)
PL 1131 (20%)
About Wintershall Dea
Wintershall Dea is Europe’s leading independent natural gas and oil company with more than 120 years of experience as an operator and project partner along the entire E&P value chain. The company with German roots and headquarters in Kassel and Hamburg explores for and produces gas and oil in 13 countries worldwide in an efficient and responsible manner. With activities in Europe, Russia, Latin America and the MENA region (Middle East & North Africa), Wintershall Dea has a global upstream portfolio and, with its participation in natural gas transport, is also active in the midstream business.
Wintershall Dea was formed from the merger of Wintershall Holding GmbH and DEA Deutsche Erdoel AG, in 2019. Today, the company employs around 2,800 people worldwide from over 60 nations.