Offshore staff

OSLO, Norway -- Pertra and DNO are set to merge, forming what they describe as Norway's second largest operator.

The combined group will operate 17 licenses offshore Norway, and will drill 20 exploration wells as operator over the next three years. The parties claim this level of activity will be equivalent in scope to previous Norwegian exploration programs conducted by Hydro and Saga Petroleum.

The new company will be named Det norske oljeselskap ASA, with DNO the largest shareholder, holding a maximum interest of 39.97%. It will be registered in Trondheim, with head office functions split between Trondheim and Oslo. The initial staff complement of 80 should double over the next two years.

Pertra's Erik Haugane and Kaare Gisvold will respectively be CEO and chairman of the new group.

10/09/2007