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.

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.

 

Press Release, June 20, 2014

 

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