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RWE Dea Awarded Operatorship in New Norwegian License

Source: www.gulfoilandgas.com 6/14/2013, Location: Europe

In the 22nd licensing round, the Norwegian Ministry of Petroleum and Energy has offered RWE Dea Norge a new production license as operator.

The Norwegian government announced the results of the 22nd licensing round, where RWE Dea Norge was awarded an 40% share in the PL721 license. The license is located in the north-west region of the Barents Sea.

“This is an exciting prospect. Exploration is moving northwards in the Barents Sea, and the license is a promising addition to our portfolio”, says John Clark, Exploration Manager of RWE Dea Norge.

“We are pleased to have been awarded the operatorship in this license, which increases our presence in the western region of the Barents Sea. RWE Dea Norge is seeking to strengthen and expand our license portfolio, whilst continuing to develop our current licenses as operator or partner”, says Hugo Sandal, Managing Director of RWE Dea Norge. “We are very appreciative that the Ministry of Petroleum and Energy recognizes this by awarding us operatorship on this exciting new license and we are glad to be one of 13 companies awarded operatorship in the region in this round.”

The award supports RWE Dea Norge’s long term strategy to build a strong portfolio in on the Norwegian Continental Shelf, which the company views as very promising. The PL721 license is located north of Skrugard and Havis, two of the most significant discoveries made on the Norwegian Continental Shelf in recent years. RWE Dea Norge’s partners on PL721 are Repsol Exploration Norge AS, OMV (Norge) AS and Wintershall Norge AS, each with a 20 percent stake in the license.

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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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