Shell Opens Farm-in Bidding for Offshore Denmark Gita Prospect

Shell has opened up bidding for companies to farm-in on an exploratory drilling operation in licenses 9/06 (Gita) and 9/95 (Maja), according to IndigoPool. Currently, Shell holds 36.8% equity in the two licenses, with Maersk working as operator at 31.2% and Chevron at 12% equity. Other partners are DONG which holds 20% in license 9/95 and the Danish Offshore Fund with 20% in license 9/06.

The Gita prospect is located offshore Denmark in an extension of the Central North Sea Graben, a highly productive HPHT region. Estimated holding potential is as high as 2.5 trillion cubic feet of gas. Shell has already acquired a rig to test the prospect, with spudding expected to occur mid-2008.

Shell is accepting bids directly with an April 28, 2008 deadline.

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