Aker acquires stake in NCS prospect

Aker Exploration has acquired a 40% interest in a prospect on license 028 from ExxonMobil Exploration and Production Norway.

Offshore staff

OSLO-- Aker Exploration has acquired a 40% interest in a prospect on license 028 from ExxonMobil Exploration and Production Norway. The agreement is conditional upon Aker Exploration operating an exploration well on behalf of ExxonMobil. The semisubmersible drilling rig Aker Barents is scheduled to drill the well towards the end of the year.

Aker Exploration will acquire a 40% share as a stratigraphic carve-out below the Base Cretaceous in return for carrying the costs of drilling one exploration well and a possible sidetrack. The carved out area will become a separate license, PL 028S, subject to approval from the Norwegian authorities.

07/16/2009

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