North Energy takes helm at licenses offshore Norway

The Norwegian authorities have approved the transfer to North Energy of a 40% operating interest in North Sea licenses 509S and 509BS from Wintershall Norge.

Offshore staff

ALTA, Norway – The Norwegian authorities have approved the transfer to North Energy of a 40% operating interest in North Sea licenses 509S and 509BS from Wintershall Norge.

Both permits contain oil prospects. According to North Energy, a commercial discovery could be tied back to nearby infrastructure such asGullfaks to the north.

The partners will take a drill-or-drop decision during the first half of 2014. A positive outcome could lead to drilling of an exploration well during 1Q 2015.

12/2/2013

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