Norway’s Okea is planning to raise $100 million through an initial public offering and apply to list on the Oslo Stock Exchange.

Okea will use the funds from the IPO to help accelerate its growth plans and support its strategy moving forward of developing fields with reserves of less than 100 million barrels of oil equivalent.

“Okea has ambitious targets for increased efficiencies and reduced development costs on NCS (Norwegian Continental Shelf) and is determined to be an active owner and operator, creating value for Okea, its partners and the Norwegian state,” Okea chief executive Erik Haugene said.