Presentation

Concedo is a privately held exploration company operating on the NCS. The company is focused on the exploration phase and targets to monetize value created through exploration by selling discoveries ahead of the field development and production stages. The company has a team of experienced geologists and geophysicists with background from companies such as Norsk Hydro, Saga Petroleum and Fortum Petroleum.

Concedo has built a portfolio of exploration licenses on the NCS and aims to drill 1-3 exploration wells per year with 20-30% working interest. Concedo participated in the drilling of the Dugong prospect in PL 882, which resulted in one of the largest oil discoveries on the NCS in 2020. The operator, Neptune Energy, has estimated the volumes to be in the range of 40-120 mmboe. Concedo has a 15% working interest in the Dugong discovery, which is amongst the largest the discoveries Concedo has been involved in. In 2021, Concedo will partake in two wells in PL 882 and one well in PL 901 in the Barents Sea.