Norway's longer shelf life lures PE players
The private equity model targets the potential remaining in Norwegian waters
Private equity (PE)-backed independents acquiring offshore blocks in the Norwegian Continental Shelf (NCS) from downsizing US producers cite the greater undeveloped and yet-to-find reserve base as a key driver. Norwegian firm Pandion Energy, backed by Asian PE fund Kerogen Capital, announced an agreement with US giant ConocoPhillips in July to acquire a 20pc interest in the PL 891 block in the Slagugle (Ural owl) prospect. Other PE-backed firms, including Mime Petroleum, Neptune Energy and Wellesley Petroleum, have also purchased existing fields and licenses on the NCS in recent months. "There is more upside on the NCS than the UKCS [United Kingdom Continental Shelf]. There are still a lot o
Also in this section
15 May 2025
Financial problems, lack of exploration success and political dogma cause uncertainty across much of the region
14 May 2025
The invisible hand of the market has seen increasing transparency but much more needs to be done to build a better understanding
13 May 2025
A fall in Venezuelan output drives overall production lower, as Saudi Arabia starts to slowly bring more crude to the market
12 May 2025
With the gas industry’s staunchest advocates and opponents taking brutal blows, the sector looks like treading a path of insipid indifference
