LOTOS EPN Relinquishes its interest in Licence PL 556

Source: www.gulfoilandgas.com 2/21/2011, Location: Europe

LOTOS E&P Norge (controlled by LOTOS Petrobaltic S.A., in which the Company holds 99.32% of the share capital) had relinquished its 50% interest in licence PL 556 in the Norwegian Sea, awarded in the APA 2009 licensing round.

LOTOS EPN as the operator of licence PL 556 (the remaining 50% interest in the licence having been awarded to Skeie Energy AS) recommended refraining from making a commitment to undertake exploratory drilling as part of another phase of the field development.

LOTOS EPN's recommendation and decision to relinquish its rights to licence PL 556 are based on the evaluation of the geological potential of the licence area, performed in the first exploration phase ended February 19th 2011.


Poland >>  5/6/2021 - With the closing of the agreement, which was first announced on 10 February 2021, PGE and Ørsted now each own 50% of the shares in the offshore wind p...
United Kingdom >>  5/6/2021 - Jersey Oil & Gas (JOG), an independent upstream oil and gas company ?focused on the UK Continental Shelf ("UKCS") region of the North Sea, is pleased ...

Brazil >>  5/5/2021 - Petro-Victory Energy has updated the market on the acquisition and closure of nine (9) onshore oil concessions in Brazil. This acquisition adds 63,583...
Poland >>  5/5/2021 - Equinor has completed an agreement to buy 100% of the shares in Polish onshore renewables developer Wento from the private equity firm Enterprise Inve...

United States >>  5/5/2021 - ALLETE Clean Energy, a wholly owned subsidiary of ALLETE, Inc., has acquired the Red Barn wind project and signed an asset sales agreement with WEC En...
Egypt >>  5/4/2021 - APA Corporation (APA) announced it has reached an agreement in principle with Egypt’s Ministry of Petroleum and Mineral Resources (MOP) and the Egypti...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.