Det Norske Expands its Presence in the Barents Sea, Norway

Det norske has entered into an agreement with Talisman Energy to acquire 10 percent in PL438 in the Barents Sea. The license contains the prospect called Skalle.

The license is operated by Lundin Petroleum who plans to drill the Skalle prospect in June this year using the drilling rig Transocean Leader. This agreement strengthens Det norske’s position in the Barents Sea. CEO Erik Haugane (picture) comments:

“We have faith in the Barents Sea as a future petroleum province and we will this summer participate in exploration wells both on Norvarg and now Skalle.

In addition to possible 21st round awards, this agreement plays a role in creating a long term fundament for our Barents Sea engagement. The Barents Sea licenses are operated form our Harstad office.

About Det norske:

Det norske is the second-largest operating company on the Norwegian Continental Shelf both considering number of operatorships, exploration- and drilling activity. The aggressive exploration program is the largest an independent Norwegian company has ever conducted on the NCS. Det norske runs its activities in a safe and responsible manner in close cooperation with the authorities. Det norske will in 2011 participate in over 10 drilling operations as partner or as operator.

Det norske currently employs a staff of around 200. The company`s registered office is located in Trondheim. The company also has offices in Oslo, Harstad, and Stavanger. Det norske is listed on the Oslo Stock Exchange (DETNOR).

[mappress]

Source:DETNOR, March  8, 2011;