Noreco agrees to UK offshore farm-out with Total

Norwegian Energy Company (Noreco) has agreed to sell 35% of UK offshore license P2032 to Total E&P UK.

Offshore staff

STAVANGER, Norway – Norwegian Energy Company (Noreco) has agreed to sell 35% of UK offshore license P2032 to Total E&P UK.

This will leave Noreco with a 15% stake, with Total covering the company’s share of seismic acquisition costs.

If the partners commit to drill an exploration well, Total will additionally cover Noreco’s drilling costs for its retained interest.

12/20/2013

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