Lifts share in the Jetta prospect

This article originates from the news archive of Det norske.

27. July 2009

Det norske has agreed to lift its stake in the Jetta (now Jette) prospect from 35 percent to 47 percent by taking on a 12 percent stake from ExxonMobil, prior to drilling operations. In return Det norske will carry ExxonMobil`s 13 percent stake in the drilling operations.

Vice president Business Development Vidar B. Larsen (picture) says: “We are pleased to increase our share in a license where we expect to put a potential discovery in early production. This transaction is similar to what we successfully did prior to the Grevling discovery. It is very exciting, as we will see the result of this transaction within a few weeks”.

Vidar Bergo Larsen

The Jetta prospect is located next to the producing Jotun field, and semi submersible drilling rig Bredford Dolphin is scheduled to spud the well in mid-August. Det norske is operator for the drilling operations.

The Jetta prospect exploration model carries many similarities to that of the Jotun field. A discovery could be produced from existing installations on the Jotun field and thus a fast track development of potential reserves is possible.

ExxonMobil is operator for PL 027D, and has received drilling permits from the authorities.

The agreement is subject to both partner and government approval.

Jette is now a producing field, read more here.

About Det norske (DETNOR`):
Det norske is the second-largest operating company on the Norwegian Continental Shelf with 28 operatorship and interests in a total of 51 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 140 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.