Private-equity backed Pandion Energy will take part in its first exploration well off Norway after acquiring a stake in a North Sea licence from Germany’s Wintershall.
The Norwegian player will acquire a 10% interest in MOL-operated production licence 820S in which Wintershall presently holds 30%.
An exploration well is due to be drilled next year in the licence, located north-west of the Balder and Ringhorne fields, which were earlier acquired by Point Resources from ExxonMobil.
