As a result of the annual licensing round (APA 2023), the Norwegian government finally granted shares in 62 production licenses to 24 companies. PUN applied for shares in ten licenses and succeeded in receiving ten.
Four of the newly awarded licenses are located in the Norwegian Sea. PUN will act as the operator for one of them. PUN will hold 70% of the shares in PL1220 and act as an operator; the remaining shares will belong to Equinor. The three other license applications from PUN concern areas close to infrastructure in which PUN holds shares, thus extending PUN’s current footprint in the area. PUN will obtain 20% shares in PL1230, where AkerBP will be the operator with 40% equity, 20% in PL1229, where Sval will be the operator with 30% equity and 10% in PL211DS, where Wintershall DEA will be the operator with 40%. Several of these licenses are located near the Skarv Field, from which PUN’s operations in Norway began.
Six of the newly awarded licenses are located in the Norwegian North Sea. Five are located close to development projects in which PUN hold shares. PUN will be awarded 12.3% of shares in PL873B, PL873C and PL1206S, all operated by AkerBP and close to the Yggdrasil development. In addition, PUN will obtain 30% and 22.2% of shares in PL1199 and PL1088B, operated by AkerBP and close to the Fenris development, respectively. Finally, PUN will also be awarded 30% shares in PL1101B, where OMV will be the operator with 40% equity.
Following the announcement of the Awards in Predefined Areas for 2023, the Norwegian government will formally offer oil companies ownership in the licenses they applied for and issue the license documents for signature.