Det norske, E.ON sign Ivar Aasen swap deal

Det norske oljeselskap ASA has signed an agreement with E.ON E&P Norge AS (E.ON) to swap two exploration licenses plus a cash consideration for a 20 percent interest in license 457, containing parts of the Ivar Aasen deposit.

Licence 457 is located adjacent and to the east of licence 001B (Ivar Aasen, DETNOR 35 percent and operator) on the Utsira High in the North Sea. Following drilling of the Asha discovery in late 2012 it was established that Ivar Aasen extends into licence 457.

Unitisation discussions between the Ivar Aasen partners and the 457 licence partners are ongoing, with the aim to conclude such discussions at the end of this month.

Upon completion of this transaction, E.ON will receive a 15 percent interest in licence 613 in the Barents Sea and a 10 percent interest in license 676 S in the North Sea plus a cash consideration.

After completion of the agreement, Det norske increases its ownership in license 457 from 20 percent to 40 percent. Det norske’s share in license 613 decreases from 35 percent to 20 percent and the company’s share in license 676 S decreases from 20 percent to 10 percent following the transaction.

The transaction is subject to approval from the relevant authorities.

Press Release, June 26, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< May 2019 >>
MTWTFSS
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

Executive Oil Conference & Expo 2019

Executive Oil Conference and Exhibition is a unique opportunity to meet with all of the region’s…

read more >

Oil & Gas Vietnam 2019

Oil & Gas Vietnam (OGAV) 2019 is the only specialized oil & gas event in Vietnam that brings together an international congregation of both upstream and downstream oil and gas companies and also its supporting industries gathered in the heart of Vietnam’s oil and gas industry in Vung Tau, to showcase the latest developments in the oil and gas industry.

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