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.