PGNiG Upstream Norway has acquired 20% shares in the Duva field PL 636 and PL636B licenses from Wellesley Petroleum AS. First production is expected at the turn of 2020 and 2021.
The Duva field is an oil and gas development project discovered in 2016. It is located within the PL636 and PL636B license area in the North Sea, approx. 140 km north of the city of Bergen. According to data from the Norwegian Oil Directorate, the deposit’s resources are 88 million barrels of oil equivalent (including approximately 8.4 billion cubic meters of natural gas).
In June 2019, the Norwegian Ministry of Petroleum and Energy approved the Duva plan for Development and Operation. The field will have three production wells two producing oil and one producing natural gas, with the potential for an additional oil well. After the commencement of exploitation planned at the turn of 2020 and 2021, the maximum annual production from the deposit in the initial period is to amount to approx. 30 thousand boe. The operator of the license is Neptune Energy Norge (30% of shares). The remaining shareholders, apart from PGNiG Upstream Norway, are Idemitsu Petroleum Norge (30%) and Pandion Energy (20%).
PGNiG Upstream Norway’s most recent acquisitions were the purchase of 42.4% shares in the Tommeliten Alpha field in 2018 and 22.2% shares in the King Lear field in June 2019. After finalizing the transaction related to the Duva field, the company will hold shares in 27 licenses on the Norwegian Continental Shelf, where it is an operator on four of them.