E.ON Farms into Barents License

E.ON E&P, the Anglo-Norwegian oil and gas arm of Germany's E.ON Group, reported Tuesday that it has farmed into a new license in the Barents Sea.

The Aurelia license is operated by Italy's Eni and E.ON's farm in will see it taking a 20-percent interest in it.

"We have had the Barents Sea as a focus area since 2010, and this farm in is a part of E.ON E&P long term exploration strategy in this area," Haakon Haaland, who heads up business development and exploration at E.ON E&P, said.

The license adds to two Barents Sea licenses the firm was awarded in Norway's 22nd licensing round. These licenses – PL720 and PL718 – are located further to the west and in a less mature area of hydrocarbon exploration.

"Since we entered Norway in 2003 we have now built a license portfolio of 31 licenses, including nine operatorships. Last year our production from Norway exceeded 30,000 barrels per day. Farm into Aurelia is a part of E.ON E&P long term exploration strategy," Haaland added.

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