Gulf Oil and Gas accountACCOUNT

Noreco Awarded Five Licences in APA 2013

Source: 1/21/2014, Location: Europe

Noreco has been awarded five new licences in the 2013 Awards in Predefined Areas (APA) in Norway (see attached maps). In two of these, Noreco has been offered operatorship.

“We are satisfied with this result and see this as recognition of our efforts to develop applications of high quality. We are also pleased that the Government has demonstrated its faith in our capabilities to act as operator. The awards are in line with our strategy to focus our efforts in mature areas with moderate geological risks and along producing geological trends,” says Noreco CEO Svein Arild Killingland.

The two operatorships are offshore mid-Norway. PL761 (40 % ownership) is located north-east of Noreco’s current operated license PL484, in which the Verdande exploration well will be drilled in the first quarter this year in a partly similar geologic play. PL762 (20 % ownership) is on the Nordlandsryggen ridge and the main target is a Permian carbonate structure.

The non-operated license PL755 (20 % ownership) is located just west of Noreco’s existing license PL591 Zumba in the Haltenbanken area and the targets are Upper and Middle Jurassic plays. PL748 (20 % ownership) is just west of the Knarr development, targeting Lower Jurassic plays, of which one is the same play that is being targeted in Knarr. PL744S (20 % ownership) is located north-west of the Veslefrikk field. The main target in this license is in the middle-lower Jurassic, in the same geological plays as Veslefrikk and other producing fields in the area.

The company Noreco Norway AS is the formal applicant and will be the formal owner of the licenses mentioned above. Noreco Norway AS is a wholly owned subsidiary of the listed company Norwegian Energy Company ASA.

Acquisitions and Divestitures News in Norway >>

Argentina >>  4/17/2019 - Equinor adds seven offshore exploration blocks to its portfolio, after presenting winning bids in the 1st Offshore Licensing Round in Argentina. ...
Argentina >>  4/16/2019 - Qatar Petroleum has won exploration rights in five offshore blocks in the North Argentina, and Malvinas West basins in Argentina. ...

Russia >>  4/16/2019 - Gazprom Neft subsidiary Gazpromneft-Zapolyarye has concluded long-term risk-based operator agreements with Gazprom PJSC subsidiaries, allowing the com...
United Kingdom >>  4/16/2019 - Union Jack Oil plc (UJO), a UK focused on-shore hydrocarbon production, development and exploration company is pleased to announce that it has conditi...

United Kingdom >>  4/16/2019 - Europa Oil & Gas (Holdings) plc, the UK and Ireland focused exploration, development and production company, is pleased to announce it has conditional...
Mexico >>  4/15/2019 - MODEC, Inc. ("MODEC), Mitsui & Co., Ltd. and Mitsui O.S.K. Lines, Ltd. (MOL) jointly announce that Mitsui and MOL have participated in a long-term ch...

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 

Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 |

More News

Related Links

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