Maersk Oil awarded licence in Norway

abarrelfull wrote on 19 Apr 2011 06:50
Tags: maersk norway upstream

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Maersk Oil announces that it has been awarded a 30% non-operated share in Licence PL597 on the Halten Terrace offshore Norway in the 21st Licencing Round.

The operator of the licence is VNG Norge A/S (40%) with Dana Petroleum Plc as partner (30%). Together with Maersk Oil, the partners are committed to carrying out seismic data reprocessing leading to a decision whether to drill an exploration well.

“This licence award fits well with Maersk Oil’s strategy of building up a strong exploration portfolio in our chosen focus areas in Norway. It adds to our current interests in four other licences on the Halten Terrace,” said Morten Jeppesen, Managing Director of Maersk Oil Norway.

“We are committed to growing our business in Norway through exploration and acquisitions to build a significant portfolio of exploration and producing assets in the coming years,” Jeppesen said.

About Maersk Oil in Norway
Maersk Oil began its activities in Norway in 2003 and currently holds seven production licenses in the North Sea and the Norwegian Sea. Earlier this month it entered a deal with Marathon Petroleum Norge A/S to farm into another three licences in the North Sea.

Maersk Oil is operator of three production licences and will drill its first operated well on the T-rex prospect in PL431 later this year. It also participates with 20% interest in the Lundin-operated Avaldsnes oil discovery and the RWE Dea operated Zidane gas discovery.

About Maersk Oil
Maersk Oil is an international oil and gas company with operated production of about 700,000 barrels of oil equivalent a day from fields in the Danish and UK North Sea, offshore Qatar and in Kazakhstan. Maersk Oil’s exploration activities are ongoing offshore UK, Denmark Norway, Angola, Brazil, the US Gulf of Mexico, Greenland and onshore Oman. Maersk Oil and its subsidiary companies are part of the Danish A.P. Moller – Maersk Group. Maersk Oil was established in 1962, when it was awarded a concession for oil and gas exploration and production in Denmark. For more information about Maersk Oil and Maersk Oil in Norway, please visit our website at www.maerskoil.com.

• Maersk Oil awarded licence in Norway

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