Noreco to acquire interest in Norwegian Sea tract

The Norwegian Energy Co. (Noreco) has agreed to acquire 10% interest in PL 392 in the Norwegian Sea from BG Norge.

Offshore staff

STAVANGER, Norway – The Norwegian Energy Co. (Noreco) has agreed to acquire 10% interest in PL 392 in the Norwegian Sea from BG Norge. The area contains the Dalsnuten prospect and drilling is scheduled to start in September. The agreement is subject to approval by Norwegian authorities and the license partnership.

The main targets in the Dalsnuten well are Jurassic and Cretaceous reservoir rocks. Operator is A/S Norske Shell, and the well will be drilled with the semisubmersible rig Aker Barents.

License PL 392 is in the western part of the Norwegian Sea, west of the Gro gas discovery.

08/23/2010

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