Norway: Det Norske Expands it Reach in Barents Sea

Today Det norske and partners DONG and Edison, signed agreements for production license 613 at the Ministry of Petroleum and Energy.  Production license 613 was awarded in the 21st licensing round. The license is located in the northern part of “Loppa High” in the Barents Sea. The license covers blocks 7322/10 and 11.

The work program that the companies have now committed themselves to, includes acquisition of 3D seismic over the area. The decision to drill an exploration well must be taken within three years. Acquisition of seismic is planned to start already this year, and the first partner meeting will take place as early as next week.

In Det norske, work with this license will be placed to our office in Harstad.

Licensees in PL 613:

Dong E&P Norge (operat0r) 40 %

Det norske oljeselskap 35 %

Edison International Norway 25 %

Facts:

Two types of licensing rounds is held on the Norwegian continental shelf:

– Awards in Predefined Areas (APA), which includes the mature parts of the shelf, with known geology and good infrastructure. This award is announced every year.

– The ordinary licensing rounds, which includes the immature parts of the shelf. These rounds are usually announced every two years.

The first licensing round was announced in 1965. Nine companies and groups of companies were in this autumn awarded 22 production licenses.

This year’s round was announced on 23 June. 94 blocks, 43 in the Norwegian Sea and 51 in the Barents Sea were offered, with a deadline in November 2010. Of these, the Government today decided to offer 24 licenses to 29 companies

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Source:Det Norske , June 9, 2011;