Det norske expands in the Barents Sea

Author: Spencer Ogden
Date posted20/Mar/2012
Author: Spencer Ogden
Det norske oljeselskap ASA has acquired a 10 percent interest in Production License (PL) 531 from RWE Dea Norge AS.

The license is located in blocks 7217/12, 7218/10 and 7218/11 on the Veslemøy High in the Barents Sea. The first exploration well in the license is planned drilled in the fourth quarter this year, or during the first quarter of next year. The well will be drilled with the Transocean Barents drilling facility. Repsol Exploration Norge AS is the operator, holding a 20 percent interest. The other licensees are Talisman Energy Norge AS (25 percent), Concedo ASA (20 percent), RWE Dea Norge AS (15 percent), and Marathon Oil Norge AS (10 percent).

This acquisition is part of Det norske’s continuous strategy of diversifying and optimizing its exploration portfolio. The purchase agreement is subject to approval by the Norwegian authorities.

Source: Det norske

To access over 2,700 of the latest oil projects from across the world visit Projects OGP for free trial today