Inpex Expands Norwegian Portfolio with Three Asset Acquisitions
INPEX Idemitsu Norge, a subsidiary of Japan’s Inpex, has finalized the purchase of three assets in Norwegian waters from the Norwegian oil and gas company Pandion Energy. Following approval by the Norwegian Ministry of Energy, INPEX now holds interests in seven production licenses on the Norwegian Continental Shelf (NCS), previously owned by Pandion.
Details of the Acquired Assets
- Four licenses are connected to the producing Valhall and Hod fields (PL006B, PL006G, PL033, and PL033B).
- Two licenses correspond to the Slagugle oil discovery (PL891 and PL891B).
- One license relates to the Mistral gas/condensate discovery (PL1119).
The transaction grants INPEX a 10% interest in the producing fields and 20% interest in each of the two discoveries.
Statements from INPEX and Pandion
“We remain dedicated to pursuing further growth through exploration, asset acquisitions, and strategic M&A opportunities. I would like to extend my heartfelt appreciation to our colleagues for their exceptional efforts, professionalism, and commitment in achieving this important milestone together,” said Koji Ochiai, Managing Director at INPEX Idemitsu Norge.
Pandion retains a producing base through a 10% stake in the Nova field and continues to advance its discoveries, particularly Ofelia and Sierra Solberg, toward development.
Summary
INPEX has strengthened its presence in Norwegian waters by acquiring key assets from Pandion, positioning itself for growth through both production and exploration activities.
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