OKEA is offered interests in three licences in APA 2025 licensing round

13 Jan 2026 14:24 CET

(Trondheim, 13 January 2026) - OKEA ASA (OSE: OKEA) has been offered interests
in three new production licences on the Norwegian continental shelf, of which
one as operator, through the Awards in Pre-Defined Areas (APA) for 2025,
covering mature areas.

The awards announced today further strengthen OKEA's portfolio and ambitions of
near-field exploration and high-impact opportunities. The company now holds
interest in 21 exploration licences.

PL 1305 is awarded with OKEA as operator and is located on the Nordland Ridge
north of the Draugen field and Mistral Discovery on the Halten Terrace in the
Norwegian Sea. PL 1255 B and PL 1293 are awarded OKEA as partner and are located
close to the Aurora Discovery in the Gjøa field in the North Sea.

"We are pleased with the awards announced today, which underpin OKEA's ambition
of building a robust portfolio of opportunities across the whole value chain,
from near- and in-field prospects to growth impact opportunities. We will
continue to seek organic growth opportunities both in terms of potential new
discoveries and pursue new developments in the vicinity of OKEA's existing
infrastructure," says Morten Krogh, VP Exploration in OKEA.

The APA 2025 awards were announced by the Ministry of Energy on Tuesday 13
January 2026. In total, 57 licences were offered to a total of 19 companies. For
more details on the awards, please see the announcement from the Ministry of
Energy at APA 2025: 57 new production licenses awarded - regjeringen.no 57 new
production licenses awarded -
regjeringen.no (https://www.regjeringen.no/en/whats-new/57-new-production
-licenses-awarded/id3145952/)

+-------+--------+----+---------+-------------------------------------+
|Licence|Block(s)|OKEA|Operator |Partners |
| | |WI | | |
+-------+--------+----+---------+-------------------------------------+
|PL 1255|35/11 |20% |Wellesley|OKEA, Equinor Energy AS, DNO Norge AS|
|B | | |Petroleum| |
| | | |AS | |
+-------+--------+----+---------+-------------------------------------+
|PL 1293|35/8, 11|40% |Equinor |OKEA ASA |
| | | |Energy AS| |
+-------+--------+----+---------+-------------------------------------+
|PL 1305|6507/3, |50% |OKEA ASA |Equinor Energy AS, Petoro AS |
| |5, 6 | | | |
+-------+--------+----+---------+-------------------------------------+

For further information, please contact:
Stig Hognestad, VP Investor Relations
stig.hognestad@okea.no
+47 902 59 040

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

More information:
Access the news on Oslo Bors NewsWeb site

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