No oil at Terne

Det norske oljeselskap ASA announces that the 6507/5-7 exploration well on the Terne prospect in PL558 in the Norwegian Sea did not encounter hydrocarbons.

No oil at Terne

Det norske is partner in the license with 10 percent* interest. The well was drilled by the Borgland Dolphin rig. PL 558 is operated by E.ON E&P Norge AS (30 percent equity).

Other partners are PGNIG Upstream International (30 percent), Petrolia Norway AS (10 percent equity*) and Petoro AS (20 percent equity).
*Det norske recently sold 10 percent equity in the license to Petrolia Norway AS. The transaction is approved by the partnership, pending only formal approval by authorities.

 

[mappress]
Press Release, June 20, 2014

 

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