Maersk Lands 7 Licenses on NCS

Maersk Oil has been awarded seven licenses offshore Norway in the APA Licensing Round, strengthening its position around the large Avaldsnes discovery and other Maersk-oil operated license areas.

"The award of new licenses significantly adds to our exploration portfolio and represents another step towards building material business in Norway, a country that has seen some large discoveries recently," said Morten Jeppesen, Managing Director of Maersk Oil Norway.

"This license award boosts our strategy of focusing on the areas on the Norwegian Continental Shelf where Maersk Oil believes it can add most value through our technical expertise and experience," Jeppesen said.

Maersk Oil entered Norway in 2003 and holds a 20 percent share in both the Avaldsnes oil discovery and the Zidane gas discovery. It is currently drilling its first operated well at the T-Rex prospect. The next operated exploration well will be drilled later in 2012.

"The new licenses add to the success we have had in the South Viking Graben region, where the Avaldsnes discovery lies, and on the Halten Terrace area, home to the Zidane discovery. With two new operated licenses, our activity level will remain high in the coming years," Jeppesen said.

Maersk Oil in Norway was awarded the following licenses:

  • Operated
    • License PL513B, adjacent to the Maersk Oil-operated license PL513 which will be drilled later this year, with Maersk Oil (50%) as operator and Dana (50%) as partner.
    • License PL647, adjacent to the Maersk Oil-operated license PL513 which will be drilled later this year and close to the Zidane discovery in which Maersk Oil has a 20% interest, with Maersk Oil (40%) as operator and RWE (30%) and Premier (30%) as partners.
  • Non-operated
    • License PL625, close but not adjacent to Avaldsnes, with Lundin (40%) as operator and Maersk Oil (20%), Bayerngas (20%) and Petoro (20%) as partners.
    • License PL623, near Avaldsnes, with Talisman (40%) as operator and Maersk Oil (20%), Premier (20%) and Bridge (20%) as partners.
    • License PL622, near Avaldsnes, with Premier (60%) as operator and Maersk Oil (40%) as partner.
    • License PL649, close to the Maersk Oil-operated license PL513 which will be drilled later this year, with VNG (40%) as operator and Maersk Oil (30%) and Dana (30%) as partners.
  • License PL597B, adjacent to PL597 in which Maersk Oil has a 30% interest, with VNG (40%) as operator and Maersk Oil (30%) and Dana (30% as partners).

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