Until the autumn of 2006, the company was a consultancy firm with expertise in exploration on the Norwegian shelf. After conversion into an oil company, the number of staff was increased and HSE and control systems were established, adapted to the requirements for an oil company. Its application for pre-qualification as a licencee on the Norwegian shelf was granted in April 2007. From the beginning of 2007 the company had a regular staff of eight employees and ever since has had a core staff with sound experience and competence. The number of staff was increased to ten from 2009, to eleven in 2010 and thirteen in 2013 in pace with the scope of our assignments and the number of licences in our portfolio. By the end of 2013 the total number of employees is thirteen.
The company made its first discovery (gas) in 2008, the Galtvort prospect in licence PL 348 and in 2009 oil was found in the Gygrid prospect under the same licence. Concedo’s interest in this licence was sold to Statoil in 2010. In the course of 2010, Maria was proven oil-bearing. The discovery is located just south of the Åsgard field. In 2011 the interest in Maria was sold to the operator, Wintershall.
The Gygrid discovery (now named Hyme) has been developed into a subsea satellite to the Njord Field. The Hyme production extends the field life of Njord. Similarly, the Maria discovery is expected to start production soon and will hence extend the field life of some of its host platforms.