Det Norske Oljeselskap agrees transfer of licenses with Total

5/13/2013

Det Norske Oljeselskap agrees transfer of licenses with Total

BY DOMINIC CHOPPING

TRONDHEIM -- Det Norske Oljeselskap said it has come to an agreement with Total with regards to transfer of participating interests in three licenses.

In the Barents Sea, Det Norske assigns 10% of license 535, which contains the Norvarg discovery, to Total. After the transaction Det norske holds a 10% share in the license.

In the North Sea, Det Norske takes over Total's 62.13% share in license 026D, which is carved out from license 026. In addition, Det Norske takes over 10% in license 574 from Total.

License 026D contains a part of the Frigg Delta discovery made in license 442 and in addition has an interesting exploration prospect. License 574 is an attractive exploration license.

Dow Jones Newswires

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