The Brage field in the North Sea has been in operation since 1993 but the oil production has for some years been in decline.
The aim of the harmonization is better coordination of the activities related to additional resources in the area and thereby optimize exploitation and enhance the total recovery of hydrocarbons from the field and nearby areas.
The partners new participating interests in all four licenses will, with effect from the date the Ministry of Oil and Energy has given its approval, be as follows:
Party Final Participating Interest
Hydro (operator) 20.0000 %
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