North Energy Sells 10% Interest in Barents License to Lime Petroleum

Junior oil firm North Energy has signed an agreement to sell its 10-percent interest in Norwegian production license 707 to Lime Petroleum Norway AS. PL 707 covers Seiland West area of the Barents Sea.

North said that the transaction forms part of its current strategy to focus on improving cost efficiency and optimizing its license portfolio.

Once the sale is complete, the licensees in PL 707 will comprise Edison Norge AS as operator with a 50-percent stake, PGNiG Upstream International AS (30 percent) and Lime Petroleum (20 percent).



Have a news tip? Share it with Rigzone!
Email news@rigzone.com

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE

More from this Author
Rigzone Staff
e-mail us at news@rigzone.com
 -  CNOOC to Drill 126 Exploration Wells i... (Jan 19)
 -  Sound Energy Looks to Buy OGIF's Asset... (Jan 19)
 -  Lundin's Development Expenditure to To... (Jan 19)
 -  The Church of England Conditionally Ba... (Jan 19)
 -  CNOOC Commences Production from Enping... (Jan 18)


Most Popular Articles

From the Career Center
Jobs that may interest you
Attorney I
Expertise: Contracts Administration|Legal
Location: Houston, 
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
Community Relations Manager Job
Expertise: Legal|PR / Corporate Communications|Project Management
Location: Red Wing, MN
 
search for more jobs

Brent Crude Oil : $53.92/BBL 2.79%
Light Crude Oil : $51.08/BBL 2.66%
Natural Gas : $3.3/MMBtu 3.22%
Updated in last 24 hours