Hydro Garners Four Danish-Sector Licenses

Hydro has won four partnership licenses in the sixth concession round in the Danish offshore sector of the North Sea.

"We delivered a comprehensive application for exploration areas in the sixth concession round in the Danish sector last November together with German energy company Wintershall," said Lars Christian Alsvik, head of the Development Norway sector in Hydro's Oil & Energy business area. "We have been awarded three large-scale licenses with Wintershall as operator." The fourth license is located near the Hejre license, where Hydro is a partner with ConocoPhillips as operator.

"We are very pleased with the awards," added Alsvik. "There was a lot of interest in the four areas, and we got what we wanted."

The four licenses are 1/06, 4/06, 5/06, and 6/06. Shares in license 1/06 are as follows: ConocoPhillips (operator), 24 percent; Saga Petroleum Danmark (Hydro's interest), 20 percent; Petro-Canada, 20 percent; DONG E&P, 16 percent; and Nordsøfonden (the Danish state direct investment), 20 percent. The shares for licenses 4/06, 5/06, and 6/06 are Wintershall (operator), 35 percent; Saga Petroleum Danmark (Hydro), 30 percent; EWE, 15 percent; and Nordsøfonden (Danish government), 20 percent.

Alsvik said the licenses have interesting potential because they are located in shallow water in an area with good existing infrastructure. With today’s oil prices, even small finds can be commercially interesting here.

"We still have faith in the remaining resources in the North Sea, both on the Norwegian and Danish sides," Alsvik said. "The geology does not change at the countries’ borders. We’ll now use the expertise we’ve developed through many years in the Norwegian sector to seek further finds in Denmark."

Hejre matures

Activity levels are high on the two licenses Hydro already participates in. An appraisal well on Hejre in 2005 confirmed oil in place. Operator ConocoPhillips is now working on a plan for development and operation (PDO) on Hejre in 2007, with a possible production start in 2009. A new well is being planned for the Stork prospect this summer.

Related Companies
 Company: DONGmore info
 - Billionaire Ratcliffe Hunts Oil to Repeat Chemicals Empire Build (May 24)
 - NPD Grants Consent for the Expansion of Nyhamna Gas Plant (Feb 10)
 - Faroe Completes Acquisition of DONG North Sea Asset Interests (Dec 7)
 Company: Norsk Hydro ASAmore info


 - Sentry Petroleum Appoints Former Norsk Hydro Analyst to Board of Directors (Dec 29)
 - Hydro Under Investigation for Former Libya Oil Operations (Oct 7)
 - SeaBird First Contract Award for SeaBed Operations (Apr 28)
 Company: ConocoPhillipsmore info


 - ConocoPhillips To Lay Off 300 In Canada After Cenovus Deal (May 4)
 - ConocoPhillips Posts Surprise Loss On Higher-Than-Expected Costs (May 2)
 - Deal Of The Month: ConocoPhillips Cuts Gas Profile in $3B San Juan Sale (Apr 28)
 Company: Petro-Canadamore info
 - C-NLOPB Approves Hebron Application (May 31)
 - Petro-Canada to Fire Up Syrian Gas Production Soon (Apr 6)
 - Faroe: Possible Hydrocarbons Found in North Sea Well (Mar 23)
 Company: Wintershallmore info


 - BASF Sees Role of Oil and Gas Unit Declining Further (May 12)
 - Norway Awards 56 Oil And Gas Licences In Mature Areas (Jan 17)
 - Total, Shell, Eni Eligible to Bid for New Iran Oil, Gas Projects (Jan 3)
 Company: Danish Energy Authoritymore info
 - DEA Cites Lower Production in 2011, 2012 Due to Hejre Postponement (Nov 26)
 - DEA Receives Open Door Application for Jutland Exploration (Sep 19)
 - Denmark Receives New Open Door Application (Sep 5)
 Company: Nordsøfondenmore info
 - Maersk O&G Hits Hydrocarbons at Gita Offshore Denmark (Apr 15)
 - Hydro Garners Four Danish-Sector Licenses (Mar 22)
For More Information on the Offshore Rig Fleet:
RigLogix can provide the information that you need about the offshore rig fleet, whether you need utilization and industry trends or detailed reports on future rig contracts. Subscribing to RigLogix will allow you to access dozens of prebuilt reports and build your own custom reports using hundreds of available data columns. For more information about a RigLogix subscription, visit www.riglogix.com.
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Global Business Development Manager
Expertise: Business Development
Location: Houston, TX
 
United States Canonsburg: Proposals Specialist
Expertise: Business Development|Marketing|Sales
Location: Canonsburg, PA
 
Senior Land Professional Job
Expertise: Landman|Lease Analyst
Location: Oklahoma City, OK
 
search for more jobs

Brent Crude Oil : $51.46/BBL 4.63%
Light Crude Oil : $48.9/BBL 4.78%
Natural Gas : $3.18/MMBtu 0.90%
Updated in last 24 hours