Aker Exploration Snaps Up Stake in NCS License from Chevron


Norwegian Continental Shelf
(Click to Enlarge)

Aker Exploration has reached agreement with Chevron Norge to acquire their 12.5 percent share in license 283 -- a license potentially holding several interesting prospects in a prospective exploration region on the Norwegian Continental Shelf (NCS).

“We are strengthening our position further in the Vøring Basin, representing an exciting opportunity in a license with good potential," said Bård Johansen, President and CEO of Aker Exploration.

License 283 will be partly relinquished to the Norwegian authorities on June 14th this year. The partnership will retain an area constituting several potentially interesting prospects. The committed work program for the license has been completed to date.

The deal with Chevron Norge constitutes that Aker Exploration will acquire their 12,5 percent share in PL 283 and following the transaction, will hold a 25 percent interest in the license.

"The license prospectivity may be influenced by a potential discovery in the nearby Gro prospect, which is currently drilled by Shell. Aker Exploration has a particular focus towards such attractive areas in the northern parts of the NCS. If license 283 proves sufficient attractiveness , this may open the possibility of the rig Aker Barents to drill the next exploration well," said Johansen.

The license partners in license 283 are Statoil (30 percent and operator), ConocoPhillips (15 percent), Petoro (20 percent), Centrica (10 percent) and Aker Exploration (25 percent).

The agreement which involves a cash settlement to Chevron Norge, is subject to final approval by the Norwegian authorities.

Aker Exploration has interests in 21 licenses on the NCS, and will in June participate in the drilling of an exploration well on license 304 with the rig Songa Dee. Following this well, Aker Exploration commence a 3 year continuous drilling program with the rig Aker Barents, focusing on exploration areas in the northern North Sea, the Norwegian Sea and the Barents Sea.
 

Related Companies
 Company: ConocoPhillipsmore info


 - ConocoPhillips to Sell Barnett Assets for $305 Million (Jun 29)
 - ConocoPhillips To Lay Off 300 In Canada After Cenovus Deal (May 4)
 - ConocoPhillips Posts Surprise Loss On Higher-Than-Expected Costs (May 2)
 Company: Chevron Corporationmore info
 - Mexico Delays Next Oil Auction to Let Huge New Find Sink In (Jul 17)
 - White House Is Said to Be Unlikely to Restrict Venezuelan Crude (Jul 7)
 - Oil Producers' Cost-Cutting Swept Away by New Price Decline (Jun 30)
 Company: Centrica PLCmore info
 - Centrica Merges Oil Business with Bayerngas to Tap Younger Fields (Jul 17)
 - Gazprom Smells Opportunity as UK's Biggest Gas Store Shuts (Jun 23)
 - Britain's Reliance On Imported Gas To Jump As Giant Storage Site Axed (Jun 20)
 Company: Petoromore info
 - Aker Solutions Secures Johan Sverdrup Phase 2 FEED Contract (Mar 21)
 - NPD Grants Consent for the Expansion of Nyhamna Gas Plant (Feb 10)
 - Statoil Granted North Sea Drilling Permit by NPD (Dec 21)
 Company: Aker Exploration ASmore 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)
 Company: StatoilHydromore info


 - Samsung Heavy Industries Lands Statoil FSU Construction Contract (Sep 14)
 - First Movers in Eco-Drilling: Going 'Dope'-less (Apr 25)
 - StatoilHydro Delays Hammerfest LNG Start Up (Nov 23)
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Executive Assistant
Expertise: Executive
Location: Houston, TX
 
Regional Sales Executive
Expertise: Business Development|Sales
Location: Jacksonville, FL
 
Land Representative - MCBU Midland Surface
Expertise: Landman
Location: Midland, TX
 
search for more jobs

Brent Crude Oil : $49.3/BBL 0.80%
Light Crude Oil : $46.79/BBL 0.70%
Natural Gas : $3.04/MMBtu 0.97%
Updated in last 24 hours