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Det Norske to Acquire 10% in PL438 in the Barents Sea

Source: www.gulfoilandgas.com 3/8/2011, Location: Europe

Det norske has entered into an agreement with Talisman Energy to acquire 10 percent in PL438 in the Barents Sea. The license contains the prospect called Skalle.

The license is operated by Lundin Petroleum who plans to drill the Skalle prospect in June this year using the drilling rig Transocean Leader.

This agreement strengthens Det norske's position in the Barents Sea. CEO Erik Haugane comments:

We have faith in the Barents Sea as a future petroleum province and we will this summer participate in exploration wells both on Norvarg and now Skalle.

In addition to possible 21st round awards, this agreement plays a role in creating a long term fundament for our Barents Sea engagement. The Barents Sea licenses are operated form our Harstad office.

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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  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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