Det Norske and Concedo Get Go-Ahead for Swap

The Ministry of Petroleum and Energy has approved the swap agreement between Det norske oljeselskap ASA and Concedo ASA. Det norske has farmed down 15% of its 100% license interest in Production License 383 (Struten), planned drilled in Q2 2009, against a 15% interest in PL 485.

Both licenses are located in the Norwegian Sea. This transaction is part of a process to optimize the company's exploration portfolio.


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