Det norske to Divest Stake in Gullris

Det norske has agreed to divest 10% of its interest in Production License 522, containing Blocks 6604/2, 3, 4, 5 and 6, to Centrica Resources. Det norske is reducing its interest from 20% to 10%.

The license, operated by BG, includes the Gullris prospect located in a water depth of 4,265 feet (1,300 meters). Drilling operations on Gullris should commence shortly using the Aker Barents semisub. The well is expected to reach a total depth of 11,483 feet (3,500 meters).

The transaction is subject to approval by the necessary authorities, and will have an effective date of Jan. 1, 2011. BG Norge is the operator, owning a 40% interest; Idemitsu Petroleum Norge owns 20%; Det norske owns 20%; and Petoro owns 20%.  

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