Pandion Energy Completes Duva Stake Sale to Solveig Gas
Pandion Energy has completed the sale of 10% non-operated interests in PL 636, comprising the Duva oil and gas field, and PL 636B to Solveig Gas.
The Duva oil and gas field is located in the northern North Sea and was discovered in the autumn of 2016.
The Plan for Development and Operation (PDO) was approved in June 2019 with first production expected in late 2020/early 2021.
Pandion Energy has also sold 10% non-operated interests in the same licenses to PGNiG Upstream Norway. This transaction is expected to be completed early 2020.
With recoverable reserves of 88 million barrels of oil equivalent, the field is expected to produce around 30 thousand barrels of oil equivalent per day at its peak.
The Duva field will be developed as a subsea tie-back to the nearby Gjøa platform.