Atlantic Petroleum buys interest in Norwegian Sea blocks

Atlantic Petroleum has acquired a 10 percent interest from Ithaca Petroleum in production licences PL601 and PL602 in the Norwegian Sea.

Atlantic Petroleum says that the transaction, subject to government approval,  is a result of the company’s strategic focus in this area.

With the previously announced commercial agreement with Spanish oil company Repsol on PL528 block and the increased exposure in PL602 and PL601, Atlantic Petroleum explains that the moves reduce risk while securing protection area surrounding PL528 where the Ivory well is expected to spud in September.

Ben Arabo, Atlantic Petroleum CEO, said: “We are optimistic about the area surrounding the Asta Hansteen development. The approach we are taking is securing us a bigger portion of the potential upside in the area while limiting the downside risk.”

Aasta Hansteen

The Aasta Hansteen development, mentioned by Arabo, has been described as one of the biggest and most complex industrial projects in Europe, by operator Statoil.

The field will host the biggest spar platform in the world. Spar is a cylindrical, partially submerged offshore production platform that is particularly well adapted to deepwater.

 

August 28, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply