Aiming for marginal fieldsAndrew McCann, SVP Subsurvace in OKEA, will present the company's strategy in Stavanger, November 20-21. Photo: Halfdan Carstens

Aiming for marginal fields

OKEA has a low-cost strategy focusing on solid subsurface studies.

OKEA has a nimble and low-cost strategy focused on growing its production through 1) exploiting upsides in and around producing fields, 2) developing sub-100 MMboe discoveries into production and 3) Mergers & Acquisitions (M&A) activity.

Within one year after creation, OKEA proposed a re-development of the Yme field and development of the Grevling discovery.

In 2018, OKEA transformed its business with the acquisition of participating interests in the Draugen and Gjøa fields from A/S Norske Shell, including operatorship of the Draugen field.

It is OKEA’s plan to continue to grow its business through a combination of extracting upsides in its existing fields, new field developments and M&A activity.

The company is currently producing about 20 000 boepd from three fields: Draugen, Gjøa and Ivar Aasen.

In total, OKEA holds participating interests in 20 Production Licences and is the operator of 11 of these

At NCS Exploration Strategy, November 20-21 in Stavanger, Andrew McCann (SVP Subsurface) will present OKEAs strategy.