Det Norske Oljeselskap Buys 10% Stake In Barents Sea License
03/19/2012| 03:14am US/Eastern
Norwegian oil company Det Norske Oljeselskap ASA (DETNOR.OS) said Monday it has acquired a 10% interest in Production License (PL) 531 from RWE Dea Norge AS.
-The first exploration well in the license is planned drilled in the fourth quarter this year, or during the first quarter of next year.
-The well will be drilled with the Transocean Barents drilling facility.
-Repsol Exploration Norge AS is the operator, holding a 20% interest. The other licensees are Talisman Energy Norge AS (25%), Concedo ASA (20%), RWE Dea Norge AS (15%), and Marathon Oil Norge AS (10%).
-This acquisition is part of Det norske's continuous strategy of diversifying and optimizing its exploration portfolio. The purchase agreement is subject to approval by the Norwegian authorities.
-Shares closed Friday at NOK92.75.
-By Dominic Chopping; Dow Jones Newswires; +46-8-5451-3093; email@example.com