We challenge consensus to open new exploration plays

Petrolia NOCO AS is an independent E&P company, highly geared to creating significant value for stakeholders through its strategy of focusing on material exploration success. By applying smart and cost effective technology with Norwegian Continental Shelf competence, the company is challenging consensus to open new exploration plays.


Petrolia NOCO AS has been involved in exploration in Norway since 2012 and has twelve licenses, including two operatorships, one in the northern North Sea (PL 933) and one in the Norwegian Sea (PL 1013).

Petrolia NOCO AS is a privately owned independent oil company qualified as an operator on the Norwegian Continental Shelf.

Photo from Petrolia NOCO field work

Photo from Petrolia NOCO field work

Smart Exploration Strategy: Focused on niche exploration

Petrolia NOCO is a niche exploration player - we challenge the consensus as we believe that this opens up new opportunities. Most explorers tend to chase historic creaming curves however we focus on new plays with potential for large discoveries. At Petrolia NOCO our primary focus is on basement opportunities, an underexplored play with significant potential. We recognised early that the basement play, already proven in the UK (e.g. Lancaster Field), is likely to be present on the NCS along an extension of the Rona Ridge. In the 2017 APA awards, Petrolia NOCO was awarded three licences with basement plays, one as operator. We continue to build a strong technical foundation in basement plays by maturing further exploration targets in preparation for future license awards.

Petrolia NOCO’s competence in the basement has been recognised by both industry and Government leading to our excellent acreage positions.


What We've Achieved

  • Fully functioning organisation prequalified as an operator on the NCS in November 2016

  • Awarded two licenses in the APA 2016

  • Awarded two licenses in APA 2015

  • Awarded five out of five licenses in APA 2018, one license as operator

  • Commended by the NPD for the high quality and innovative thinking of our 2017 APA applications

  • Awarded one license as operator and three licenses as partner in the APA 2017


Investment Highlights

Assets with High Impact Potential      

  • Unlocking the basement potential on the NCS, similar to the recent giant Lancaster discovery in the UK

  • Seeking near field undiscovered potential

Creative Board and Team

  • Young and dynamic exploration team working with experienced management

  • Challenging conventional thinking

Fast Mover

  • A small team able to make quick decisions

  • Successful track record of deal completion and in license awards

Early Monetization

  • Focused on the exploration part of the EP cycle

  • Looking to maximize value at minimum cost

  • Smart explorer and active portfolio manager

Board of Directors

Dr Robert Arnott
Chairman of the Board

Sjur Storaas
Board Member

Brede Bjøvad Larsen
Board Member