Pertra Acquires Marathon’s 30% Share in PL 337

This article originates from the news archive of Det norske.

5. September 2006

Pertra announces today that the company has agreed to acquire Marathon’s 30 % share in PL 337, located on the Norwegian Continental Shelf.

PL 337 is operated by Pertra, and through the agreement with Marathon Pertra’s license interest will increase from 35 % to 65 %. The other partners in the license are BG (25 %), and Talisman (10 %).

This agreement is contingent upon approval from the Norwegian authorities.

Furthermore, Pertra has agreed to transfer to Marathon, in exchange for their PL 337 interest, the right to utilize one drill slot contracted to Pertra under the Consortium Agreement regarding the use of the drilling rig “Bredford Dolphin”.