Det norske shops for North Sea licences from Centrica

  • Business & Finance

Det norske oljeselskap has entered into an agreement with Centrica Resources Norge to acquire the company’s three licences in the North Sea, offshore Norway. 

The licences include the Frigg Gamma Delta and Rind discoveries in the North Sea.

The portfolio consists of 30 percent ownership in the licences PL 442, PL 026B and PL 026, including the operatorship in Frigg Gamma Delta.

As compensation, Det norske will cover the expenses of the licences with effective date of January 1, 2016.

“After a review of our portfolio we have decided to transfer our ownership in three licences to Det norske. These licences are no longer core to Centrica and we have other priorities we wish to focus on in Norway,” says Senior Vice President Dag Omre of Centrica E&P Norway.

The transaction is subject to regulatory approvals.

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