Pandion Energy completes major asset divestment, boosts financial flexibility

Pandion Energy AS has successfully completed the divestment of its participating interests in three assets on the Norwegian Continental Shelf to INPEX Idemitsu Norge AS. The transaction, initially announced on July 22, 2025, received approval from the Norwegian Ministry of Energy. The sale included Pandion Energy’s 10% stake in the producing Valhall and Hod fields, and 20% interests in the Slagugle and Mistral discoveries.

This divestment realizes significant value for Pandion Energy and strengthens its financial position. Following the repayment of its bond and reserve based lending (RBL) facility, the company expects to become debt-free. This increased financial flexibility will enable Pandion Energy to focus on developing its remaining assets and pursuing new growth opportunities in selected core areas on the NCS.

Pandion Energy will maintain a producing base through its 10% interest in the Nova field and continues to mature other discoveries, including Ofelia and Sierra Solberg, towards development. Chief executive Jan Christian Ellefsen highlighted the transaction as a significant milestone in the company’s active portfolio management strategy, emphasizing the value captured from both producing and exploration assets.