Norway Endorses Proposed Environmental Program for Froy Redevelopment

Pertra ASA is currently in the process of preparing plans for a redevelopment of the Froy oil field in the North Sea. Froy is located within the area comprised by Production License (PL) 364. Pertra and Premier Oil Norge each hold a 50 % license interest. The field is located in Blocks 25/2 and 25/5, approximately 25 kilometers northeast of Heimdal.

Norway's Ministry of Petroleum and Energy (MPE) has endorsed the final Environmental Impact Assessment Program in accordance with Pertra's recommendations. As operator of PL 364, Pertra prepared the Environmental Impact Assessment Program proposal for Frøy. The program was submitted to the authorities concerned and to central governmental and non-governmental organizations for their comments 31 October 2006. Based on comments received, Pertra compiled a final program that has now been endorsed by the authorities.

The Environmental Impact Assessment Program comprises social and environmental consequences of the redevelopment of Frøy. Completion is planned for Q2 2007.

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