Northern Petroleum Awarded Offshore Italian License
Northern Petroleum Plc announced that its wholly owned subsidiary, Northern Petroleum (UK) Limited ('Northern'), has been advised of the preliminary award of offshore Italian license d351C.R-.NP, covering 100 km2. Northern has been invited to prepare the required environmental impact study which work will now commence.
The award is adjacent to offshore license C.R146.NP, close to the Maltese maritime boundary. The license includes an extension to an existing mapped prospect within C.R146.NP.
Northern holds a 100% interest in the license, but a subsidiary of ATI Oil Plc, in which Northern holds a 37.04% equity interest, has a 50% pari passu commercial interest in the license.
Northern also confirms that it has made a charitable donation to a relief fund for the victims of the Abruzzo earthquake.
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