Noreco increases stake in North Sea Haribo prospect

Noreco Norway and North Energy have agreed to swap interests in two licenses on the Norwegian continental shelf.

Aug 14th, 2014

Offshore staff

STAVANGER, Norway – Noreco Norway and North Energy have agreed to swap interests in two licenses on the Norwegian continental shelf.

Noreco will raise its ownership in the Haribo license PL616 in the North Sea from 20% to 30%. An exploration well will likely be drilled on the Haribo prospect in mid-2015. Noreco estimates potential reserves in the 69-192 MMboe range.

North Energy will gain 15% in PL484, where theVerdande prospect was recently drilled.

Elsewhere in the North Sea,Noreco expects to participate in a well on the Xana prospect offshore Denmark this fall, on Niobe in UK waters, and in another appraisal well next year on the Gohta discovery in the Barents Sea.

08/14/2014

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