Aker Eyes North Sea Licenses
Aker Exploration has entered into agreements with the international oil company Eni Norge to acquire ownership interests in two licenses in the vicinity of the Asgard field. The agreements further strengthen Aker Exploration's position in the Norwegian Sea.
Aker Exploration now has a portfolio of ownership interests in five licenses. Aker Exploration's goal is to drill between five and seven wells annually, starting in November 2008.
"We are positioning ourselves in a part of the Norwegian Sea where hydrocarbon resources have already been identified," said Aker Exploration President and CEO Bard Johansen. "Our four licenses in the Norwegian Sea are in the vicinity of the producing fields Asgard and Draugen."
Aker Exploration will acquire 30% of Eni Norge's 100% ownership of license 259, and it has committed a rig slot with the Aker Barents drilling rig. Further, Aker Exploration will acquire the whole of Eni Norge's 55% ownership interest in license 256.
The two licenses comprise blocks located west of Asgard in the Norwegian Sea.
Eni Norge is a wholly owned subsidiary of the Italian energy company Eni Norge.
"Aker Exploration has entered into strategically important agreements with Eni, Hydro, Talisman Energy, and Pertra. These agreements confirm the attractiveness of the company's business model to large and small, Norwegian and international organizations," said Johansen. "We are reinforcing our position in the northern regions of the Norwegian Continental Shelf."
"Aker Exploration's license stakes in the Norwegian Sea are ideal for the deployment of Aker Barents, the world's largest, most advanced drilling rig," he added. "The semi-submersible platform is built for year-round drilling under harsh weather conditions."
"Aker Exploration is aggressively targeting northern waters as an oil and exploration company with a difference. Our objective is to become a recognized operator," he said.
Aker Exploration is pre-qualified as a licensee on the Norwegian Continental Shelf and has applied to the Norwegian authorities to be pre-qualified as an operator. The company has a NOK 3.2 billion capital base. Aker Exploration has entered into a long-term drilling agreement with Aker Drilling for deployment of Aker Barents, starting October 31, 2008. Aker Exploration is conducting comprehensive surveys to identify offshore hydrocarbon resources using both electromagnetic Seabed Logging and seismic data.
Aker Exploration's transactions with Eni Norge are contingent upon approval by Norwegian regulatory authorities.
Operates 1 Offshore Rigs
- Sentry Petroleum Appoints Former Norsk Hydro Analyst to Board of Directors (Dec 29)
- Hydro Under Investigation for Former Libya Oil Operations (Oct 07)
- SeaBird First Contract Award for SeaBed Operations (Apr 28)
Company: Talisman Energy more info
Operates 8 Offshore Rigs
- Strong Upstream Performance from European Majors (Jul 28)
- PETRONAS, PetroVietnam Extend PM3CAA PSC in Malaysia-Vietnam Waters to 2027 (May 10)
- Repsol Significantly Scales Back Upstream Investment (Oct 15)
Company: ENI more info
Operates 11 Offshore Rigs
- Italy Prosecutors Probe Eni For Tax Evasion At Refineries (Nov 22)
- Officials: BP, Eni Interested In Developing Iraq's Majnoon Oilfield (Nov 20)
- Eni's Giant Gas Field Prompts Egypt to End Imports in 2018 (Nov 15)
Company: Det norske oljeselskap ASA more info
- Det Norske Completes Merger with BP Norge, Creates Aker BP (Sep 30)
- Lundin Granted Drilling Permit Offshore Norway (Sep 20)
- Det Norske Increases Production Guidance for 2016 (Sep 14)
Company: Aker Exploration AS more info
- Det norske to Revamp Plans for Froy (Apr 13)
- Det Norske to Participate in Dalsnuten Prospect (Feb 19)
- Det Norske Reviews 4Q Results, Sees Continued Growth (Feb 19)