Urgent need for clarification

This article originates from the news archive of Det norske.

30. April 2010

Det norske takes a positive view of the agreement between Norway and Russia on the delimitation of the disputed area in the Barents Sea. Det norske has long advocated opening up more of the Barents Sea. The next important step is to quickly clarify the resources in the area.

CEO Erik Haugane in Det norske has been a strong advocate of opening up larger areas of the Barents Sea for exploration. He has, on several occasions, requested a clarification of the kind that we may now finally get.

’We can only congratulate the parties involved on reaching a reasonable conclusion to the mutual benefit of both countries. Now that a deal has been reached on the disputed area, exploration should also get underway as soon as possible. In our view, this may be an area with very promising prospects. The partnership with Russia is also promising in terms of reasonable resource management. We can now hope for rapid progress in the petroleum activities in the area, with considerable ripple effects for the region and for Northern Norway as a whole.

’Mr Haugane hopes that this will result in more extensive cross-border collaboration between Russia and Norway.

‘Det norske will of course have an offensive approach to obtaining licences in the area. We would like to explore, discover and hopefully also produce petroleum from this large and important area.’

Stig Vassmyr (to the left) Manager at the Harstad Office and Erik Haugane (to the right) Chief Executive Officer.

Stig Vassmyr (to the left) Manager at the Harstad Office and Erik Haugane (to the right) Chief Executive Officer.

Clarification

Stig Vassmyr is exploration manager for the Barents Sea and head of Det norske’s Harstad office.

’It is a good thing that an agreement has been reached. The most important thing now, is to start collecting necessary data about the resource basis as soon as possible. We know enough about this area to start this work immediately.’

Mr Vassmyr stresses that production from this area will probably not be possible for a long time to come, and that it cannot replace the opening up of other areas that still remain closed in the far North. The disputed area is located far from existing infrastructure.

’We are happy about the willingness to open up new areas. It is important for maintaining an interest in the Norwegian continental shelf. It will also contribute to reducing the decline in Norwegian oil production in the future. We must admit that we do not have any clear picture of the available resources in the area. The essential thing now, is to establish such a picture.’

About Det norske:
Det norske oljeselskap ASA has interests in a total of 77 licenses, with 37 operatorships. Det norske is the second-largest operating company on the Norwegian Continental Shelf both considering number of operatotships and exploration activity. I 2009 the company operated nine exploration wells, and the high activity will continue in 2010. Det norske runs its activities in a safe and responsible manner in close cooperation with the authorities.

Det norske currently employs a staff of 180. The company`s registered office is located in Trondheim. The company also has offices in Oslo,Harstad, and Stavanger. Det norske is listed on the Oslo Stock Exchange (DETNOR).