DONG Wins North Sea License Between Shetland and Faroe Islands

DONG has been awarded licenses to explore for oil and gas in one of the most promising areas in the North Atlantic between the Shetland Islands and the Faroe Islands. The area in which DONG may be drilling covers 3,400 square kilometers. It is almost as large as the entire area of the North Sea that contains all the oil and gas discovered in Denmark to date.

The offer from the UK State demonstrates that DONG has seriously established its position in the North Atlantic, where we will now be one of the largest license holders. The two licenses have been offered to a consortium consisting of DONG, Gaz de France and Dana Petroleum.

At the same time DONG has been offered shares in another three licenses that have Chevron as operator.

The area between the Faroe Islands and the Shetland Islands is one of DONG's three focus areas within oil and gas. The other two are in the Danish and Norwegian sectors of the North Sea and in the Norwegian Sea off Mid-Norway, where DONG has a ten per cent stake in the large Ormen Lange field.

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