ORLEN Gains New Licenses on Norwegian Shelf
- ORLEN offered stakes in six licenses after APA 2025 round.
- Victoria discovery holds up to 140 billion cubic meters of tight gas.
- Joint venture includes Aker BP, Equinor, and Harbour Energy.
- Formal license awards to be finalized in March.
License Acquisition
ORLEN Upstream Norway has secured stakes in six new exploration and production licenses on the Norwegian Continental Shelf, following the APA 2025 licensing round. These licenses are strategically located near ORLEN's existing assets, allowing the company to utilize existing infrastructure and reduce costs and timelines.
Victoria Discovery
Among the licenses, the Victoria discovery near the Skarv area is notable, with tight gas resources estimated at up to 140 billion cubic meters. Originally discovered in 2000, the license was relinquished in 2009 due to challenging reservoir conditions. However, advancements in upstream technologies have renewed interest in achieving economic production rates.
Joint Venture and Collaboration
ORLEN is forming a joint venture with Aker BP, Equinor, and Harbour Energy to explore the potential of the Victoria discovery. Aker BP will operate the license, and the collaboration aims to leverage advanced well stimulation techniques to unlock the gas resources.
Future Prospects
If successful, the approach to Victoria could enable access to other unconventional gas discoveries on the Norwegian Continental Shelf, with combined resources estimated at over 800 billion cubic meters. The formal license awards are expected to be finalized in March.
Source: ORLEN