An exciting license in the Barents Sea

This article originates from the news archive of Det norske.

29. April 2009

Det norske oljeselskap ASA (DETNOR) has been awarded a 20 per cent stake in license 533 (blocks 7219/12 and 7220/10) at Loppa Vest in the Barents Sea.
Det norske submitted only two applications in the 20th licensing round.

Det norske’s CEO, Erik Haugane, is not altogether pleased with the result.

“We have been awarded a share in one of the two licenses we applied for in the Barents Sea, and we consider this an exciting license. From our point of view, this area is the most interesting of what was offered in the 20th licensing round, as there are strong seismic indications of hydrocarbons. We also hoped for a share in the neighbouring license 532, preferably as operator. A larger share would have been important to strengthen our Harstad office.”

Erik Haugane notices that Statoil and the Norwegian authorities through Petoro, are awarded 70 per cent of the license (license 532) that Det norske had hoped to participate in.

– This is not necessarily the best way to increase activity and stimulate competition in the North. We will uphold our commitment to develop education, research and industry in Northern Norway, but our opportunities now are smaller, as we did not become operator and were awarded only a small share.

Det norske’s activities in the Barents Sea are managed from our Harstad office. The company has initiated a number of efforts to strengthen our position in the North. Contracts have been signed with industrial operators, research and education institutions. The objective is to prepare for increased activity. In collaboration with Verftsringen Nord-Norge, apprenticeship programs have been set up in Nordland, Troms and Finnmark counties. Det norske has initiated several research and development programs with the University of Tromsø and university colleges of Northern Norway.

About Det norske (DETNOR`):
Det norske is the second-largest operating company on the Norwegian Continental Shelf with 27 operatorship and interests in a total of 47 licenses. Det norske is the operator of the Frøy Field development and will also operate eight to nine exploration wells in the North Sea and Norwegian Sea during 2009. Det norske’s scope of activities is limited to the Norwegian Continental Shelf (NCS).

Det norske currently employs a staff of more than 130 and the strong growth rate continues. The company`s registered office is located in Trondheim and the headquarter operations is divided between Oslo and Trondheim. The company also has offices in Harstad, and Stavanger.