RWE Dea admits duo to Norway license

RWE Dea has agreed to farm out 30% of a license in the northern Norwegian Sea to Lundin Petroleum.

Offshore staff

STOCKHOLM, Sweden -- RWE Dea has agreed to farm out 30% of a license in the northern Norwegian Sea to Lundin Petroleum.

PL330, comprising blocks 6608/1 and 2, covers about 740 sq km (286 sq mi). According to Lundin, this is an underexplored part of the Norwegian Sea where potentially significant hydrocarbon prospects have been identified.

RWE Dea operates the license, and Marathon Petroleum Norge will also take a 30% interest. The transaction is subject to approval by Norway’s government.

05/25/2011

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