Spring farms out Barents Sea stake

Noreco has agreed to take a 20% interest from Spring Energy in license PL 490 in the Norwegian Barents Sea.

Offshore staff

OSLO, Norway – Noreco has agreed to take a 20% interest from Spring Energy in license PL 490 in the Norwegian Barents Sea.

The permit is west/northwest of the producing Snøhvit field. A well is due to be drilled in the concession next year on the combined Juksa / Snurrevad prospects.

Spring Energy is currently participating in two exploration wells targeting the Skalle prospect in PL 438 in the Barents Sea, and Apollon in PL 377S, west of the producing Vega gas / condensate field. It expects to feature in three more wells later in the year.

06/01/2011

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