LIMASSOL: Petrolia NOCO (49.9% owned by Petrolia SE) was awarded three licenses today by the Norwegian Ministry of Petroleum and Energy.

The licenses (PL 1106 20%, PL 1107 30%) are located in the northern North Sea and one operated license (PL 1013 B 60%) in the Norwegian Sea.

The addition of these licenses to Petrolia NOCO’s portfolio means that it continues to deliver on its near field exploration strategy. The award strengthens the Company’s position in its core area of the Tampen Hub, where it holds 20% in the Dugong discovery (PL 882) and 30% share in the adjacent PL 992 and PL 994 licenses.

More exploration drilling is planned in the Tampen area in 2021, including the Dugong Tail exploration well and Dugong Appraisal well.

Petrolia NOCO looks forward to maturing the prospects identified in the newly awarded acreage in collaboration with its existing partners Neptune Energy Norge AS, DNO ASA, Lundin Norway AS and new partners Wintershall DEA and Petoro.

Petrolia NOCO confirms oil discovery at the Dugong well operated by Neptune Energy