Concedo is an oil company located in Asker, near Oslo, focusing on exploration on the Norwegian Continental Shelf. Our staff is highly experienced and has contributed in many discoveries in the past. The vast majority of the staff are geologists or geophysicists, all having many years' experience from both Norwegian and international oil industry.
Concedo's business model is to divest discoveries prior to field development. Adhering to this strategy will enable us to maintain an effective organization, and the aim is to be among the best exploration environments in Norway. Our strategy is proven by considerable value creation from our position as a licensee.
Our key tools in identifying new opportunities for discoveries are seismic data, well data, and the staff's overall experience. Testing of new technology like electromagnetic data and special processing of seismic data have in certain situations proven very important. Our future is decided through our daily work, namely interpretation, analysis and integration of the various data.
Concedo was pre-qualified as a licensee in 2007 and has since then been awarded license shares in the annual concession rounds and the numbered rounds. The wells we have drilled have proven the quality of the prospects; three discoveries out of seven wells have been made. The discoveries have been successfully sold to Statoil and Wintershall.