OKEA ASA

Oil and gas is the engine of the Norwegian economy At Desemberkonferansen in Kristiansund, our CEO, Svein Jakob Liknes, discussed OKEA’s contribution to energy security, economic growth, and societal value. Highlights: 📊 In 2023, Norwegian oil and gas companies paid NOK 465 billion in corporate tax. OKEA contributed NOK 3 billion, ranking us as Norway’s 26th largest taxpaying corporation in Norway. ⚡ Our two 31-year-old fields, Draugen and Brage, produce enough oil and gas to meet the energy needs of half of Norway’s households. 👷♀️ We employ 500 people, support suppliers across the country, and actively contribute to the communities where we operate. To summarize, we take pride in delivering oil and gas to Europe, supporting Norway’s economy, and strengthening our local communities. Thank you to Kristiansund og Nordmøre Næringsforening for creating an important and highly relevant meeting place. 📸 Heine Schjølberg

We meet with governmental bodies to discuss challenges, opportunities, and advancements in our industry. ❓ Why? To foster mutual understanding and better decision-making.   That is why our colleagues Ragnhild Aas, Thomas Lerdahl, and Trond Gravem met with the Norwegian Ministry of Energy, Norwegian Offshore Directorate, and Norges forskningsråd (Research Council of Norway). ❓ To talk about what? They discussed how OKEA applies technology to achieve our goals, including solutions for tying marginal discoveries into existing infrastructure and drilling extreme extended-reach wells to increase production in mature fields. ✔️ Our technology strategy focuses on developing and implementing efficient solutions across our facilities and operations. ✔️ Collaboration with technology suppliers is essential to our success, and we must highlight the vital role of research centers in advancing subsurface expertise and emission-reduction technologies.  ✔️ Technology is not just an enabler—it’s a necessity for driving growth and delivering results. In other words, technology is critical to unlocking new opportunities and extending the lifetime of our oil and gas-producing assets. #Operationalexcellence

🔔 Time to join OKEA? We are currently seeking a Senior HVAC Engineer to join our multidisciplinary team in Facilities & Operations Integrity. In this role, you will be the technical lead for HVAC systems on our operated installations (Brage and Draugen). We are looking for individuals who want to be part of a forward-thinking environment where your efforts will help shape the future of energy solutions on the Norwegian continental shelf. Are you ready to join our team? https://lnkd.in/djQ7ggdq #Operationalexcellence

What does the future of exploration look like on the Norwegian continental shelf? 🌍 This was the topic when our colleague, Ida Ianssen Lundh, SVP Subsurface, joined the panel "The Future of Exploration on the NCS - Increasing Costs, Competitiveness & Policy" at the NCS Exploration Strategy event. Europe faces an energy crunch, and Norway's oil and gas sector is stepping up, with record investments planned for 2024. Ida made the following points: ✔️ Focus on cooperation: ⁃ with our suppliers to enable smart and cost-efficient developments. ⁃ with licence partners to align interests and enable developments, avoiding being stuck in commercial discussions. ✔️ Solving «technical enablers»: ⁃ extended reach drilling from new and existing infrastructure. ⁃ multidisciplinary early-phase engineering to enable lean and cost-efficient subsea tiebacks. ✔️ Continuous optimisation of production and the maturation of new volumes to extend the lifetime of existing infrastructure on the NCS, which again will trigger more area exploration. Let's continue exploring the NCS 🌏 Thank you for having us, GeoPublishing Events #Operationalexcellence

🚀 Why don't you join OKEA as an Asset Development Manager? We're looking for an Asset Development Manager to lead the strategic development of our partner-operated and exploration portfolio, which has a key role in advancing our company strategy. As ADM, you'll be a fully integrated member of our Asset Management teams, with a focus on maximising the commercial value of our assets through: 🔹 Responsible resource management 🔹 Driving value 🔹 Supporting our growth 📍 Location: Stavanger or Oslo (other OKEA locations can be considered) 🏢 Department: Commercial and Strategy If you are interested in commercial thinking and strategy, we'd love to hear from you! Are you ready to make an impact? https://www.okea.no/career

We have a new licence in the Brage area!   ✔ By exploring areas close to existing infrastructure, we can tie back discoveries to existing facilities. ✔ Leveraging existing infrastructure minimises the need for additional construction, leading to a reduced footprint. ✔ Near-field discoveries can be brought into production faster and at a lower cost.   ➡ Together with the Brage partnership, we have evaluated the Sognefjord East area and its potential extension into the neighbouring EXL 004 block, also known as the Luna license. ➡ Following a constructive dialogue with authorities and the Luna partnership, we submitted an application for the area in March 2024 – which was approved on November 15 🤝   ➡ Our new licence, PL 055FS, allows Brage to explore and potentially extract hydrocarbons while ensuring coexistence with Luna. “Each new production license is an opportunity for growth and success, and seeing OKEA's strategy in action is truly gratifying", says Brage Asset Manager, Gøran Solsvik.   Brage is in a mature phase, making exploring and utilising remaining prospects crucial. The development plan includes the Sognefjord East area, with the Kim discovery as the next major step.   Stay tuned for more updates from Brage! Luna licence: Harbour Energy & TotalEnergies Brage partnership: Lime Petroleum AS DNO Norge AS Petrolia Noco AS M Vest Energy AS

Milestone day!!! Today, the Minister of Energy, Terje Aasland, visited our HQ in Trondheim to hand over the signed PDO for the Bestla project, a significant milestone for OKEA. Here are some facts about Bestla: 🗺️ Strategic location: Located just 13 kilometres south of the Brage field in the northern North Sea, Bestla opens new doors for extended Brage field lifespan. ⚙️ Development strategy: A subsea development linked to Brage to unlock estimated reserves of 24 mmboe oil and gas, with a four-year projected production period and potential for extension. 💰 Investment and economic impact: With total investments estimated at approximately 6.3 billion NOK, including subsea facilities, pipelines, Brage modifications, and production drilling. Around 70% of these investments benefit Norwegian suppliers. ⏳ Project timeline: Production will commence from two wells in 2027. Bestla's development as a subsea tie-back to Brage ensures operational efficiency, leveraging proven solutions and Best Available Technologies (BAT). 🌊 Mythological inspiration: Bestla, a giantess and the mother of Odin, symbolises strength, legacy, and the interconnection of past and future endeavours. 🛢️ Ownership and operation: Partners in Bestla (PL740) are OKEA (39.27%), DNO Norge AS (39.27%), Lime Petroleum AS (17%), and M Vest Energy AS (4.4%). Stay tuned for more updates as we bring the Bestla project to life! #Operationalexcellence

🔎  We're looking for a Principal Financial Controller to join our team What you'll do: 📊 Financial reporting, budgeting and forecasting. 💡 Strategic financial planning and provide insights to guide business decisions.  🔍Maintain strong internal controls and manage risk.   What we're looking for: ✔️ Experience in financial management, reporting, and strategic planning.  ✔️ Expertise in budgeting, forecasting, and financial analysis.  ✔️ A detail-oriented mindset with a focus on accuracy and efficiency.   ❓ Why Join Us? OKEA has a clear and distinct growth strategy that has resulted in two major transactions in the last two years and more than doubling production. We are also focusing on organic growth and are developing the Bestla field, which will increase production by 10,000 barrels per day. In addition, we have ongoing drilling campaigns and exploration wells planned. OKEA has been listed on the stock exchange since 2019 and has issued five bond loans since 2017. Interested? We'd love to hear from you! https://www.okea.no/career

Our Exploration team is growing 🚀 We are building our exploration portfolio and are looking for those who see opportunities where others see limitations. Is that you? We are seeking the following three roles: ✔ Lead explorationist ✔ Senior explorationist ✔ Explorationist Our primary focus is on the Norwegian Sea and North Sea basins, where OKEA is a key player in areas surrounding our operated hubs, Brage and Draugen. What you should know: ➡ Exploration is a strategic priority for us as we build the company toward 2030. It is at the core of our growth strategy, driving our ambition to increase our production of oil and gas and create long-term value. ➡ We have a clear direction backed by a solid technical team, and we are committed to leveraging our expertise to discover new opportunities. ➡ We aim to find and develop resources that will extend the life of existing fields, enhance our portfolio, and contribute to a secure and responsible energy supply to Europe. If you want to be part of a company that values exploration as a critical element of its future and thrives on technical excellence and a clear vision, we want to hear from you! Take a look 👉 https://lnkd.in/dgqX8xE

❓ Why is oil and gas important? Oil and gas play a key role in ensuring that homes, businesses, and industries have access to energy. ❓ Why is the Norwegian continental shelf so crucial? Due to its stable regulatory framework and proximity to the European energy markets. ❓ What is OKEA's role in the industry? We focus on extending the life of existing fields, ensuring a reliable and responsible energy supply to Europe. Last week, our CEO, Svein Jakob Liknes, talked about oil and gas to young professionals at Norsk Petroleumsforening / Norwegian Petroleum Society's Young Energy Conference. ➡ Educating and informing younger generations about oil and gas is essential because they are the future stewards of our industry. ➡ It is crucial that they understand the role oil and gas play in energy security, the economy, and the ongoing energy transition. Thank you for the interesting discussions!