MPE Maintains Decision to Cut Det Norske's Johan Sverdrup Stake

The Norwegian Ministry of Petroleum and Energy has maintained its decision, made in July 2015, to cut Det norske oljeselskap's stake in the Johan Sverdrup oil field, following an appeal made by the company earlier this year.

Based on an assessment carried out by the Norwegian Petroleum Directorate, the MPE decided in July to appoint Det norske a total ownership interest in the Johan Sverdrup field of 11.5733 percent. The stake marked a slight decrease from a proposed 11.89 percent, set in February. In MPE’s July apportionment decision, Statoil was assigned a 40.0267 percent interest in the field, and Lundin, Petoro and Maersk Oil were handed 22.6000 percent, 17.3600 percent and 8.4400 percent interests, respectively.

Det norske had argued that its part of the Johan Sverdrup field has more valuable oil and should therefore receive a greater share of the revenue from the asset’s eventual output. A Det norske representative told Rigzone that the company would take some time to read the MPE’s decision and explanation before the board decides to either accept the ruling or pursue another avenue to fight the apportionment.

Reuters contributed to this article

A graduate in journalism from Cardiff University, Andreas has eight years of experience as a business journalist. Email Andreas at


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.

Related Companies

Our Privacy Pledge

More from this Author
Andreas Exarheas
Assistant European Editor | Rigzone
 -  Total to Invest in UK College Students (Apr 21)
 -  Rookie Mistakes to Avoid on Your First... (Apr 20)
 -  EM&I Launching Major Expansion Program... (Apr 20)
 -  Bilfinger Secures Over 200 Jobs with B... (Apr 20)
 -  Threat of UKCS Strike Action Increases (Apr 20)

Most Popular Articles

From the Career Center
Jobs that may interest you
Materials Manager
Expertise: Logistics Management|Materials Management
Location: Rosemount, MN
Subcontract Administrator
Expertise: Contracts Administration
Location: Rosemount, MN
Consultant-Power/New Energy (Americas)
Expertise: Business Development
Location: New Jersey, NJ
search for more jobs

Brent Crude Oil : $51.96/BBL 1.94%
Light Crude Oil : $49.62/BBL 1.29%
Natural Gas : $3.1/MMBtu 1.89%
Updated in last 24 hours