Noreco Acquires Stake in 8 Licences Offshore Norway

Noreco Acquires Stake in 8 Licences Offshore Norway

Norwegian Energy Company (Noreco) has been awarded eight new licences in the 2011 Awards in Predefined Areas (APA) in Norway.

“We are very pleased with these awards, which demonstrate the strong competence in the Noreco team,” says Lars Fosvold, Vice President Exploration. “Noreco is one of the most active explorers in Norway, and these awards add exciting new exploration opportunities to our portfolio”.

Noreco has been awarded the following licences:

  • PL414B (20 percent share) on blocks 25/2, 25/3, 25/5, and 25/6 is an extension of licence PL414.
  • PL616 (20 percent share) on blocks 2/7, 2/10, and 2/11 is just west of the Valhall and Embla Fields in the Central Graben.
  • PL620 (25 percent share) on block 9/6 is just southeast of the Yme Field in the Egersund Basin.
  • PL621 (25 percent share) on block 9/2 is between the Gamma og Beta structures in the Yme Field in the Egersund Basin.
  • PL624 (15 percent share) on blocks 16/6, 17/4, and 17/7 is southeast of the Avaldsnes discovery and is situated at the transition between the Utsira High and the Ling Graben.
  • PL634 (30 percent share) on blocks 35/4, 35/5, 35/7, and 35/8 is between the Sogn Graben and the Viking Graben just north of the Vega Field.
  • PL639 (15 percent share) on blocks 6201/7, 6201/8, 6201/10, and 6201/11 is in the Møre Basin just north of the Manet Ridge where Noreco is partner in licence PL519.
  • PL646 (20 percent share) on blocks 6507/8 and 6507/9 is on the Nordland Ridge southeast of the Skarv Field.

Offshore Energy Today Staff, January 18, 2012

 

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