Aker Grabs New License Next to Norway's Draugen Field

Aker Exploration has entered into an agreement to acquire a total of 25% interest in PL 469 from Gaz de France Norge AS and Discover Petroleum AS, respectively 17.5% and 7.5%. The license is immediately south of the Draugen field in the Norwegian Sea. 

'We now have a promising portfolio with ownership interests in 16 licenses in northern areas of the Norwegian Continental Shelf," said Bard Johansen, Resident president and CEO in Aker Exploration. 

Aker Exploration has in total farmed into licenses with nine oil companies in Norway in return for rig capacity. StatoilHydro is currently drilling with Transocean Leader on PL 283 in the Norwegian Sea (Stetind) where Aker Exploration has a 12.5% interest. 

The Company aims to drill between five and seven wells per year with its own rig, Aker Barents. The first well is planned to be drilled on PL 304 where Lundin Norway AS is the operator and where Aker Exploration has a 30% interest. The transaction with Gaz de France Norge and Discover is contingent upon approval by the Norwegian authorities.

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