APA 2006 Applications Submitted

This article originates from the news archive of Det norske.

19. September 2006

Earlier today, Tom Bugge and Sigmund Hanslien submitted Pertra’s applications for new licenses on the Norwegian Continental Shelf to the Ministry of Petroleum and Energy.

The applications relates to acreage both in the Norwegian Sea and the North Sea. Pertra applies as operator as well as partner with other competent operators.

“It is important for Pertra that we expand our present number of licenses to reach a portfolio enabling us to prioritize and drill an adequate number of prospects with the chance of success Norwegian fiscal terms encourage us to take,” states Portfolio Manager Sigmund Hanslien.

Exploration Manager Tom Bugge is satisfied with the areas Pertra now has applied for in APA 2006. “So far this year we have spent more than NOK 100 million on exploration activities on the Norwegian Shelf, and a significant portion of this amount has been invested in identifying interesting prospects available in this Licensing Round. We are thus confident that the new licenses we have applied for, if awarded to us, will fuel good opportunities for us and our partners.”

The Ministry will announce the Awards in December this year.