Det Norske Lifts Share in Jetta Prospect Ahead of Drilling

Det norske has agreed to lift its stake in the PL 027D Jetta prospect from 35 percent to 47 percent by taking on a 12 percent stake from ExxonMobil, prior to drilling operations.

In return Det norske will carry ExxonMobil's 13 percent stake in the drilling operation. The Jetta prospect is located next to the producing Jotun field, and semisubmersible drilling rig Bredford Dolphin is scheduled to spud the well in mid−August. Det norske is operator for the drilling

The Jetta prospect exploration model carries many similarities to that of the Jotun field. A discovery could be produced from existing installations on the Jotun field and thus a fast track development of potential reserves is possible.

ExxonMobil is operator for PL 027D, and has received drilling permits from the authorities.

The agreement is subject to both partner and government approval.

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