OKEA ASA

Regulatory Filings • Jan 14, 2025

Eight production licences awarded to OKEA in APA 2024

(Trondheim, 14 January 2025) – OKEA ASA (OSE: OKEA) ("OKEA") has been offered interests in eight new production licences on the Norwegian continental shelf, through the Awards in Pre-Defined Areas (APA) for 2024.

The awards announced today further strengthen OKEA's portfolio of near-field exploration opportunities around the Draugen, Gjøa, Brage and Ivar Aasen production hubs. The company now holds interests in 21 exploration-focused licences.

PL 1266 and PL 1252 are awarded with OKEA as the operator. The new OKEA-operated licences are located close to the Draugen field in the Norwegian Sea, and close to the Brage Field in the North Sea.

"The award demonstrates OKEA's ambition of building a robust portfolio of opportunities, being an active explorer in our core areas. The award further strengthens OKEA's position close to existing hubs. We will continue to seek organic growth opportunities both in terms of potential new discoveries and pursue new developments nearby OKEA's infrastructure", says OKEA SVP Subsurface, Ida Lundh.

The APA 2024 awards were announced by the Ministry of Energy on Tuesday 14 January 2025. In total, 53 licences were offered to a total of 20 companies.

For more details on the awards, please see the announcement from the Ministry of Energy at APA 2024: 53 new production licenses awarded - regjeringen.no

Licence	Block(s)	Operator	Other partners	OKEA WI
PL 1268	6406/6, 6407/4	Aker BP	OKEA, Vår	20
PL 1267	6407/5, 6 & 9	Sval	OKEA, M Vest	30
PL 1266	6407/5 & 8	OKEA	M Vest, Petoro	44.56
PL 1260	35/4 & 5	Vår	OKEA, Sval	20
PL 1256	35/9	Petrolia	OKEA	40
PL 1255	35/11	Wellesley	OKEA, DNO, Equinor	20
PL 1252	30/6	OKEA	Petrolia, Lime	35.2
PL 1248	16/2 & 3, 25/11 & 12	ConocoPhilips	OKEA	40

birte.norheim@okea.no

+47 952 933 21

About OKEA

OKEA ASA is a leading mid- and late-life operator on the Norwegian continental shelf (NCS). OKEA finds value where others divest and has an ambitious strategy built on growth, value creation and capital discipline.

OKEA is listed on the Oslo Stock Exchange (OSE:OKEA)

More information at www.okea.no