Divests interest in the Barents Sea

This article originates from the news archive of Det norske.

19. December 2013

Det norske oljeselskap ASA has entered into an agreement with Atlantic Petroleum Norge AS concerning the sale of a 10 percent interest in production license 659 in the Barents Sea, where drilling on the Langlitinden prospect is scheduled to commence in January 2014.

LanglitindenDet norske is the operator and will hold 20 percent in the license following the transaction.

As compensation, Atlantic Petroleum will carry part of Det norske’s drilling costs related to the exploration well. Langlitinden is a gas and oil prospect. The well is located approximately 165 kilometres northwest of Hammerfest.

The agreement is subject to approval by the authorities.

The licensees in production licence 659, previous ownership interests in parantheses:
Det norske oljeselskap, operator            20 percent (30 percent)
Petoro                                                                      30 percent
Lundin Norway                                                   20 percent
Atlantic Petroleum Norge                           10 percent (0 percent)
Tullow Oil Norge                                               10 percent
Rocksource Exploration Norway             5 percent
Ithaca Petroleum Norge                                5 percent