NPN takes share of P12 gas

Offshore staff

LONDON --The Dutch government has approved the transfer of Dyas' interest in an offshore license to London-based Northern Petroleum.

The transaction, concerning 23.611% of Dutch North Sea license P12, was announced April 23. Following sanction, Northern Petroleum will receive income from its share of production from the P12 gas field – 207MMcf – for the six months ending June 30.

"We believe that this is great news for Northern and that Dyas will be excellent partners moving forwards," said Derek Musgrove Northern's managing director.

10/02/2007