Noreco farms into Ronaldo well

Norwegian Energy Co. (Noreco) has agreed to take a 20% interest from E.ON Ruhrgas Norge in license PL 434 in the Norwegian Sea.

Offshore staff

STAVANGER, Norway -- Norwegian Energy Co. (Noreco) has agreed to take a 20% interest from E.ON Ruhrgas Norge in license PL 434 in the Norwegian Sea.

License PL434 is northeast of the Statoil-operated Heidrun field. It includes the Ronaldo prospect, where drilling – operated by Wintershall – is due to start in January, using the semisubmersible Songa Delta. Within Ronaldo, the main target is Middle Jurassic reservoir rocks.

Noreco will assume the 20% interest via a drilling carry cost. E.ON Ruhrgas Norge AS will retain a 10 % interest in the concession.

“With this transaction we expand our presence on the Haltenbanken where we recently made the Zidane-1 discovery, and where we see significant potential for further commercial discoveries,” said Noreco CEO Scott Kerr.

09/01/2010

More in Field Development