Spring gets nod for Norway

Norway’s Ministry of Petroleum and Energy (MPE) has prequalified Spring Energy as a licensee on the Norwegian Continental Shelf (NCS). Spring Energy is an Oslo-based independent Norwegian upstream oil and gas company whish is pursuing growth opportunities in both mature and immature areas on the NCS. The company was established in 2007 by a group of E&P professionals with extensive experience from the industry. Roar Tessem, CEO of Spring Energy, said: “This is an important milestone for Spring Energy. The prequalification as a licensee is a recognition by the Norwegian authorities that Spring Energy will be able to contribute to increased value creation on the NCS. “Furthermore, this enables us to be awarded licenses in the upcoming APA 2008 and the 20th concession round in addition to pro-actively participate in the asset transaction market.”