Impressive results for a Norwegian start-up

Impressive results for a Norwegian start-up

According to Norway’s Minister of Petroleum and Energy, Kjell-Børge Freiberg, small to medium oil companies, such as Pandion Energy, play a very important role on the Norwegian shelf, and are needed to create diversity and competition on the market.

The Minister has recently been visiting several small to medium oil companies to learn how they deal with challenges and handle opportunities. The Government will then use this experience to build strategies that will help these companies thrive.

Pandion Energy was one of the companies the Minister visited this week, and the feedback was positive. Pandion Energy is a small oil and gas company, with just 23 employees to date, founded two years ago.

The company deals with exploration (six licenses in the North Sea), development (Duva field) and production (Valhall and Hod). Their recent success involves the approved Duva PDO, together with Neptune Energy. Along with Aker BP, Pandion Energy produce 5000 barrels a day from Valhall.

Future exploration work is underway, with two wells to be drilled in 2019 and one in 2020