Petrolia SE Group, which comprises Petrolia SE and its subsidiaries has two business divisions: Exploration and Production (“E&P”) and OilService. Petrolia SE is listed on the Oslo Stock Exchange under the ticker code PSE.
The core activities include Independent Oil Tools AS, a well-established international equipment rental company for the global oil industry.
In addition, the Group owns 49.9% of Petrolia Noco AS, an independent oil & gas company qualified as an operator on the Norwegian Continental Shelf (NCS).
Petrolia Noco is an independent E&P company that utilises efficient and intelligent exploration process together with machine learning.
With focus on early monetization, Petrolia Noco combine traditional exploration methods with new AI and machine learning technologies. The company's creative business approach is based on building strong strategic alliances with their license partners and technology companies. Petrolia Noco aim to change the traditional license partnership model from an organization consisting of different partners to one collaborative team - sharing openly and transparently instead of selectively. All with the shared objective of creating more value for the next generation.
Strategy:
- Exploration: early monetization through near-field exploration in core areas, unlocking potential high value uplift with lowest possible capex requirements
- Production: gain production assets (and cash flow) and contribute to increased recovery by reducing costs and applying new technology
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