Det norske Sells Stake in Garantiana

Det norske has sold a 20% interest in Production Licenses 554 and 554B to Svenska Petroleum Exploration. Det norske is reducing its interest from 40 to 20%.

Under the agreement, Svenska will carry part of the expenses related to the first exploration well to be drilled in either license, including the Garantiana prospect. The prospect is scheduled for drilling in 2012. The licenses are situated east of the Snorre field in the Norwegian sector of the North Sea.

The consortium will now consist of Bridge (operator, 60%), Det norske (20%) and Svenska (20%).  

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