PGS Subsidiary Wins Acreage in Norway's 18th Licensing Round

PGS' wholly-owned subsidiary, Pertra, has been awarded the following acreage in the 18th round license awards on the Norwegian Continental Shelf:

  • Operatorship and 80% participation in blocks 6306/2, 3 and 5
  • 30% participation in blocks 9/2, 3 and 6, with parts of blocks 9/5 and 10/4

  • Each award is contingent on Pertra's acceptance of the award terms.

    President of Pertra AS; Erik Haugane says is very pleased that Pertra was awarded the acreage, especially since it was awarded 100% of the acreage applied for.

    Pertra is currently the operator of the Varg field located in Production License 038 (Block 15/12) in the Norwegian sector of the North Sea with 70% interest while co-venturer Petoro AS holds the remaining 30%.