Aker Exploration Strengthens Position in North Sea
Aker Exploration has reached an agreement with ExxonMobil Exploration and Production Norway AS to acquire a 40 percent share of a prospect in license 028. The agreement is conditional upon Aker Exploration operating an exploration well on behalf of ExxonMobil. The semisubmersible drilling rig Aker Barents will be used for the well which is expected to commence towards the end of 2009.
"We are strengthening our position in the Balder / Grane area where Aker Exploration already have existing exploration activity. The prospect is near infrastructure and within a proven hydrocarbon province," said Bard Johansen, President and CEO of Aker Exploration.
Aker Exploration will acquire a 40 percent share as a stratigraphic carve-out below the Base Cretaceous in return for carrying the costs of drilling one exploration well and a possible sidetrack. The carved out area will become a separate license, PL 028S, subject to approval from the Norwegian Authorities.
"To Aker Exploration the prospect represents a very interesting exploration opportunity. This transaction once again shows the merit of the "Rig for Oil" concept and Aker Exploration looks forward to cooperate with ExxonMobil in exploring for oil in this area," said Bard Johansen.
The transaction is subject to final approval by the Norwegian Authorities.
Aker Exploration has now interests in 22 licenses on the NCS, and is currently drilling an exploration well on license 304 with the rig Songa Dee. The drilling schedule of Aker Barents is nearly fully booked until the end of 2010 with several additional identified opportunities in the period thereafter.
Operates 16 Offshore Rigs
- ExxonMobil Reports Papua New Guinea Discovery (Jan 16)
- Exxon, BP Targeted in NYC Suit That Relies on 'Nuisance' Theory (Jan 10)
- ExxonMobil Reports More Offshore Guyana Success (Jan 05)
Company: Aker Drilling more info
- Transocean Finalizes Acquisition of Aker Drilling (Oct 04)
- Transocean to Buy Aker Drilling for $1.4B (Aug 15)
- Vantage to Provide Construction Management Services for Aker Drillships (Mar 10)
Company: Songa Offshore ASA more info
- Transocean To Buy Norwegian Rig Firm Songa Offshore For $1.1B (Aug 15)
- Songa Offshore to Cut 430 Jobs Due to Ongoing Norway Oil, Gas Strikes (Sep 30)
- Songa Encourage Rig Commences 8-Year Statoil Drilling Contract (Apr 12)
Company: Aker Exploration AS more info
- Det norske to Revamp Plans for Froy (Apr 13)
- Det Norske to Participate in Dalsnuten Prospect (Feb 19)
- Det Norske Reviews 4Q Results, Sees Continued Growth (Feb 19)