NPD Grants Noreco N. Sea Drilling Permit

The Norwegian Petroleum Directorate has awarded Norwegian Energy Company ASA (Noreco ASA) a drilling permit for well 7228/1-1, cf. Section 8 of the Resource Management Regulations.

Well 7228/1-1 will be drilled from the drilling facility Transocean Barents (UDW semisub) in position 72 51' 0.89" north and 28 18' 56.28" east.

The drilling program for well 7228/1-1 concerns the drilling of a wildcat well in production license 396. Noreco ASA is the operator with an ownership interest of 50 percent. The other licensees are Front Exploration AS (30 percent) and Petoro AS (20 percent).

The production license consists of the blocks 7228/1 and 7228/2. The license was awarded in the 19th licensing round.

Wildcat well 7228/1-1 is the first exploration well in production license 396.

The permit is contingent upon the operator securing all other permits and consents required by other authorities before the drilling activity starts.

Company: Norwegian Petroleum Directorate more info
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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)
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