Tim Sullivan, CEO of Revus Energy, said: "This award marks our continuing success in growing the company, and further delivers on our business plan in getting access to excellent exploration opportunities close to existing infrastructure."
The award of an operatorship confirms that Revus has in place an organisation of sufficient competence and capacity to undertake the responsibility of operatorship. "As operator, Revus will be able to lead and control activity and will in general be able to act on a greater range of opportunities. As such it will clearly increase the value potential of the company", says Tim Sullivan.
Licenses were awarded to 26 companies and in terms of number of licenses awarded Revus ranks 3rd behind Statoil ASA and Norsk Hydro Produksjon a.s.
The awarded licences add to Revus's existing portfolio of fifteen production licenses which includes three producing fields and five potential development projects This extensive portfolio has been built over a period of two years since Revus' first license award in late 2003.
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