The Norwegian Ministry of Energy and Petroleum has approved Det
norske oljeselskap’s sale of 10% in production licenses 316, 316B, 316CS and
316DS to the Polish Company Lotos Exploration and Production Norge AS.
The transaction includes the Yme field, which is currently under development. Det norske will receive close to MNOK 600 in cash for these assets. For further details, reference is made to the stock exchange notice published on 23 October 2008.
About Det norske (DETNOR`):
Det norske is the second-largest operating company on the Norwegian Continental Shelf with 24 operatorships and interests in a total of 46 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. The company also has offices in Oslo, Harstad, and Stavanger.