Det norske Throws in Bid for 2 Norwegian Licenses

Det norske submitted license applications for the 20th Licensing Round to the Ministry of Petroleum and Energy today. The Ministry aims at rewarding new production licenses in the spring of 2009, at the same time as which the comprehensive Management Plan for the Norwegian Sea is finalized.

In the 20th Licensing Round, Det norske has applied for licenses in both the Norwegian Sea as well as in the Barents Sea. Det norske has for some time signalled that increased activities in the Barents Sea is necessary.

The company has established its office in Harstad with a view to strategic pursuit of the Barents Sea.

"Det norske has already established a well-balanced exploration portfolio. We hope that this will be strengthened through the 20th Round," stated Tom Bugge, Vice President Exploration of Det norske.

"Not in the least we hope to continue our positive development in Harstad. We have established ourselves in the north of Norway, and will continue to develop in this region."