OKEA lifts Talisker West reserves and sharpens low-cost North Sea growth

OKEA ASA ( (DE:3SX) ) has provided an announcement.

OKEA ASA and partners have increased recoverable resource estimates at the Talisker West discovery in the North Sea’s Statfjord formation from 19 to 28 million barrels of oil equivalent, while combined Statfjord and Cook formation estimates have risen to 23–44 million barrels. The development plan is unchanged, but the larger volumes reduce the expected break-even cost to below USD 10 per barrel, with first production targeted for 2027.

The Talisker West volumes are considered low-cost, high-value barrels that will be developed via drilling and production directly from the existing Brage platform, 10 kilometres east of the Oseberg field and about 120 kilometres west of Bergen. This capital-efficient tie-back is expected to rapidly bring additional barrels onstream, enhancing value generation both from the new discovery and from the Brage field, and reinforcing OKEA’s position as a cost-focused operator on the Norwegian continental shelf.

More about OKEA ASA

OKEA ASA is a Norwegian oil and gas company focused on mid- and late-life assets on the Norwegian continental shelf, where it specialises in extracting additional value from fields that other operators may divest. Listed on the Oslo Stock Exchange, the company pursues a strategy centred on growth, value creation and strict capital discipline in offshore production operations.

Average Trading Volume: 627,953

Current Market Cap: NOK3.93B

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