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
1 April 2026
Golden Pass’s startup offers QatarEnergy a timely boost but may also force a difficult choice between honouring disrupted contracts and capitalising on soaring spot LNG prices
1 April 2026
It is not a case of if or when, but the length and magnitude of economic damage from elevated oil prices
1 April 2026
The US-Iran conflict demonstrates the need for diversification in several senses of the word. It also exposes the limits of Washington applying pressure on major oil and gas producers it considers geopolitical adversaries
31 March 2026
Disappointing results in its bidding round are a reality check for Libya, and global exploration generally
