Northern Petroleum, Shell to acquire offshore Sicily seismic

Northern Petroleum and Shell Italia E&P are acquiring a 3D seismic survey offshore Sicily.

Offshore staff

LONDON -- Northern Petroleum and Shell Italia E&P are acquiring a 3D seismic survey offshore Sicily. Shell will fund the prospect-defining program in the joint venture area which covers the G.R17.NP, G.R18.NP, G.R19.NP, G.R20.NP, G.R21.NP, and G.R22.NP licenses. A 2,300-km (1,429-mi) 2D survey was recorded over the license area earlier this year.

Under the terms of the farm-out agreement, Shell holds 55% in G.R17.NP, G.R18.NP, and G.R19.NP; and 70% in G.R20.NP, G.R21.NP, and G.R22.NP. Northern will continue as the operator during the seismic phase and Shell will assume operatorship for the drilling phase.

10/06/2009

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