Noreco secures four licenses in APA 2009

Noreco won four new licenses including two operatorships in the 2010 Awards in Predefined Areas (APA) in Norway.

Offshore staff

STAVANGER -- Noreco won four new licenses including two operatorships in the 2010 Awards in Predefined Areas (APA) in Norway.

The awards include two licenses in the North Sea, one license in the Norwegian Sea, and one license in the Barents Sea. The awarded licenses are close to existing Noreco acreage:

- PL540 in block 3/6 is geologically in the Siri Fairway
- PL545 in blocks 17/2, 3, 5, 6 are adjacent to Noreco's PL411 and the main targets are in the same play, namely Middle Jurassic reservoirs, faulted structural traps, and Upper Jurassic or deeper source rocks
- PL562 in blocks 6609/5, 6, 8 are east of Noreco's PL526, and the main targets are in Middle to Upper Triassic reservoirs, but other plays are also being considered
- PL563 in blocks 7119/6 and 7120/4 is extension acreage to Noreco's PL490, where the main target is in Lower Cretaceous reservoirs.

01/19/2010

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