The Norwegian operator said in a press release on
The acquisition increases PetroNor’s interest to 39% and boosts its influence in the licence partnership to plan for the re-development of the Aje field.
“Acquiring New Age’s interests represents a big step in achieving the partner alignment necessary to move forward with plans for the re-development of the Aje field,” commented
The Aje field is estimated to contain recoverable resources of 480 BCF of gas, 54 mmbbls oil, condensate and LPG. The acquisition of New Age’s Aje interests will increase PetroNor’s net 2C contingent resources in Aje from 27.1 mmboe to 70.1 mmboe1,2.
“We are excited about the potential value of this gas resource which is located close to major population centres and offers a cleaner source of energy for power generation and industrial use compared to current alternatives,” Pace said.
According to the agreement,
PetroNor’s existing position in OML 113 was achieved through the acquisition of Panoro Energy ASA’s
Following completion of these transactions,
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