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GDF SUEZ Acquires Interest in PL 420 From Idemitsu

Source: www.gulfoilandgas.com 11/24/2014, Location: Europe

GDF SUEZ has signed a contract with Idemitsu for the acquisition of 10% share in the license PL 420. PL 420 is situated between the Gjoa field and the Skarfjell discovery, and contains the discovery Titan.

The exploration well Atlas in the license started 4 November with the semi-submersible rig ”Leiv Eiriksson”. The operation is estimated to 61 days. RWE Dea Norge AS is the operator.

This agreement increases GDF SUEZ equity to a 20% share in PL 420. Idemitsu divests from 30% to 20% share in the license. The other license partners are RWE Dea Norge AS (30%, operator), Idemitsu Petroleum Norge AS (20%), Statoil Petroleum AS (30%).

The transaction is pending authorities’ approval.

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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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