Total, Det norske realign offshore Norway interests

Det norske oljeselskap has agreed to swap interests in three licenses offshore Norway with Total E&P Norge.

Offshore staff

TRONDHEIM, Norway – Det norske oljeselskap has agreed to swap interests in three licenses offshore Norway with Total E&P Norge.

In the Barents Sea, Det norske will transfer 10% ofPL 535 to Total. This includes the Norvarg discovery, currently undergoing appraisal drilling. In exchange Det norske will net Total’s 62.13% share in license 026D, carved-out from license 026, and 10% of PL 574. License 026D contains a part of the Frigg-Delta discovery in adjacent license 442, and has further exploration potential.

Det norske says the transactions strengthen its position in one of its core areas in the North Sea, where it plans to focus its future exploration efforts.

5/14/2013

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