Asset acquisition completed

On Friday 31 October, INPEX Idemitsu Norge’s acquisition of a 10 % participating interest in the Valhall and Hod producing fields and a 20 % participating interest in the Mistral gas/condensate and Slagugle oil discoveries (both yet to be developed) from Pandion Energy AS was completed as planned.

The completion of this transaction marks a significant milestone in IIN’s growth journey toward 2035. It underscores our firm commitment to advancing sustainable E&P activities with reduced carbon intensity on the NCS. 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.

Koji Ochiai, Managing Director INPEX Idemitsu Norge

Business people toasting — Representatives from Pandion and INPEX Idemitsu Norge marking the completion of the acquisition. From left: Oksana Hillervik (VP, HSE & Operation, Pandion Energy), Helge L. Nordtorp (Dep CEO & VP Business Development, Pandion Energy), Jan Chr. Ellefsen (CEO, Pandion Energy), Preben Grevstad (Senior Advisor, INPEX Idemitsu Norge), Koji Ochiai (Managing Director, INPEX Idemitsu Norge), Torgeir Vinje (Advisor Exploration, Development & Growth/Acting BD Manager, INPEX Idemitsu Norge) and Fumiko Ueda (Corporate Planning Advisor, INPEX Idemitsu Norge). Photo: IIN

INPEX Idemitsu Norge AS (IIN) is part of INPEX Corporation, Japan’s leading energy enterprise. The company entered the Norwegian Continental Shelf in 1989 by acquiring a stake in the Snorre field. IIN is located at Lysaker and currently employs around eighty highly skilled and experienced professionals.