Press Esc to close

WorldOil

World Oil News Center



Noreco sells North Sea license to Total

STAVANGER, Norway -- Norwegian Energy Company (UK) Ltd, a fully-owned subsidiary of Norwegian Energy Company ASA, has entered into an agreement to sell 35 percent of UK license P2032 to Total E&P UK.

After this transaction, Noreco will keep a 15 per cent interest in the license. According to the agreement, Total will compensate Noreco by carrying Noreco’s share of seismic costs. If the license partnership decides to drill an exploration well on the license, Total will also cover drilling costs for Noreco’s retained interest in the license. The agreement is effective from December 1, 2013.

The existing carry agreement between Noreco and license partner Trap Oil is still in force, leaving Noreco with a 6.25 per cent paying equity interest in the license.

12/19/2013

 

Bookmark and Share


WO DATA HUB

EngineeringTablesIcon-Large

Engineering Data Tables

World Oil's specialized upstream Engineering Data Tables featuring the Drill Bit Classifier, Tubing Tables and more. Get Total Access today.

WO SUPPLEMENTS

2013 Fracturing Technology

2013 Fracturing Technology

MEDIA CENTER

By Digital Publisher

Drill Bit Classifier World Oil published its renowned Drill Bit Classifier in September 2013. The Drill Bit Classifier is a comprehensive listing of major manufacturers' d...

ENERGY EVENTS