Det norske Awarded License in Barents Sea

Det norske Awarded License in Barents Sea

Monday, April 18, 2011
Det norske oljeselskap ASA

Det norske has been awarded a new license in the Barents Sea in 21 licensing round. Production license 613 is located in blocks 7322/10 and -11 in the central part of the Barents Sea. The license was Det norske's first priority in this allocation round. In total the Government offers 12 new licenses in the Barents Sea

Dong E & P is the operator of the license with a 40 percent stake. Det norske and Edison International are partners with respectively 35 and 25 percent stake. The work program for the license acquisition of 3D seismic over the area. Within three years from granting, the license must decide to drill an exploration well or hand back the license. If drilling is decided, the well must be drilled within five year from the grant.

This year's round was announced on June 23. 94 blocks, 43 in the Norwegian Sea and 51 in the Barents Sea were offered, with a deadline in November 2010. Of these, the Government has decided to offer 24 licenses to 29 companies