INPEX Idemitsu acquires new oil and gas assets
INPEX Idemitsu Norge AS (IIN) has acquired a 10 % participating interest in the Valhall and Hod fields (both currently in production) and a 20 % participating interest in the Mistral gas/condensate and Slagugle oil discoveries (both yet to be developed) from Pandion Energy AS.
The acquisition of the Vallhall/Hod producing fields in the North Sea, along with the Slagugle and Mistral discoveries in the Norwegian Sea, is fully aligned with IIN’s strategy to expand our presence on the Norwegian Continental Shelf. It enhances our reserves and production, supports our commitment to reducing overall greenhouse gas emissions, and positions us for future growth in areas beyond our existing core areas.
IIN holds numerous licences in the northern North Sea, the northern Norwegian Sea and the Barents Sea and has engaged in steady production operations from fields in the northern North Sea. With the acquisition of these new interests, IIN’s daily oil and gas production volume will increase from approximately 23,000 barrels of oil equivalent (oe) per day to about 27,000 barrels oe per day. Furthermore, the acquisitions are expected to expand INPEX’ business portfolio through development of the Mistral gas/condensate and Slagugle oil discoveries, respectively, as well as enhancing the potential for further exploration and development in the surrounding areas.
INPEX Idemitsu will actively continue to engage in the exploration, development and production of crude oil and gas in cooperation with our partners, operators and authorities.
About the Valhall and Hod oil fields (Central North Sea)
| Licence name | PL 006 B, PL 006 G, PL 033, PL 033B |
| Location | Central North Sea |
| Licensees and licence equity | Aker BP (Operator)： 90 %
INPEX Idemitsu Norge AS： 10 % |
About the Mistral gas and condensate discovery (Norwegian Sea)
| Licence name | PL 1119 |
| Location | Norwegian Sea |
| Licensees and licence equity | Equinor Energy AS (Operator)： 50 %
OKEA AS： 30 % INPEX Idemitsu Norge AS： 20 % |
About the Slagugle oil discovery (Norwegian Sea)
| Licence name | PL 891, PL 891 B |
| Location | Norwegian Sea |
| Licensees and licence equity | ConocoPhillips Skandinavia AS (Operator)： 80 %
INPEX Idemitsu Norge AS： 20 % |
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.
