Norway’s North Energy ASA has today signed a sale and purchase agreement with Spike Exploration Holding AS (Spike), whereby North Energy sells 10 per cent interests in offshore production licences (PLs) 299 and 590 to Spike for an undisclosed fee.
North Energy’s remaining holdings after implementing the sale will be 10 per cent in PL 299 and 30 per cent in PL 590.
Operator Talisman is planning to spud a well within the near future on the Frode oil prospect in PL 299, which lies in the North Sea. A drilling decision is due to be taken by February 2014 in PL 590, operated by North Energy in the Norwegian Sea.