Noreco Acquires 2 Offshore Licenses on the Danish Continental Shelf
Norwegian Energy Company ASA (Noreco) announced today that the company has through its 100% owned affiliate Altinex Oil Denmark A/S entered into an agreement with Chevron Denmark Inc to acquire a 12% interest in License 9/06 (Gita) and License 9/95 (Maja) on the Danish Continental Shelf.
The two licenses are located west of the Amalie discovery and are both operated by Maersk (31,2%) with Shell (36,8%), DONG (20% in License 9/95) and the Danish Offshore Fund (20% in license 9/06) as the other co-venturers. The two licenses contain prospectivity in Jurassic reservoirs with good follow-up potential.
The agreement is conditional upon authority approval and on consent, including waiver of pre- emption rights, by the other co-venturers.
Scott Kerr, CEO of Noreco, commented: "This transaction underlines our growth ambitions in the North Sea and demonstrates our ability to grow inorganically in one of our core areas. The vicinity to the Amalie discovery strengthens the Noreco position in an area with significant potential to grow Noreco's production in Denmark."
- Canada's Keyera Signs Pact With Chevron To Transport, Store NGL (Oct 10)
- Chevron Starts LNG Output at Australia's Wheatstone (Oct 09)
- Petrofac Extends North Sea Contract with Chevron (Oct 05)
Company: Altinex Oil AS more info
- NPD Grants StatoilHydro Drilling Permit for PL 442 Wildcat (Aug 28)
- Dong Completes Drilling at Siri-6 in Danish North Sea (Jan 27)
- Oilexco Enters LOI with Bluewater to Deploy FPSO at North Sea's Huntington (Aug 27)
Company: Norwegian Energy Company (NORECO) more info
- Det Norske to Acquire Noreco's Norwegian Portfolio (Mar 02)
- Noreco Oil UK Receives Huntington License Default Notice (Nov 02)
- Noreco CEO Steps Down (Oct 13)