ONS 2010: VNG Norge enters the Danish shelf

VNG Norge AS today told ONS 2010 attendees that it has decided to extend its activity to include the Danish shelf.

Offshore staff

Stavanger, Norway –VNG Norge AS today told ONS 2010 attendees that it has decided to extend its activity to include the Danish shelf.

VNG founded a subsidiary in Denmark, VNG Danmark ApS, which has secured 15% in the Svane gas discovery, and also an oil prospect, Solsort, under licenses 4/98 and 3/09. The shares were purchased from DONG E&P A/S.

“The establishment of VNG Danmark is a natural extension of our focus on northwestern Europe,” managing director Tord Pedersen said. “VNG Norge aims to produce a significant portion of the gas sold by our parent company, VNG – Verbundnetz Gas AG in Germany. We must therefore increase our license portfolio, primarily in Norway, but because of its proximity to the European gas market and its infrastructure the Danish shelf is also an attractive business area for VNG Norge.”

In 2001, then operator, ConocoPhillips, drilled an exploration well on the Svane block. It found gas, but technical made the results uncertain. A new well is needed to evaluate the size of the discovery and the feasibility of recovering the gas. This appraisal well will be drilled next year.

08/24/2010

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