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Wärtsilä Norway AS is a wholly owned subsidiary of Wärtsilä Corporation in Finland. Wärtsilä enhances the business of its customers by providing them with complete lifecycle power solutions. When creating better and environmentally compatible technologies, Wärtsilä focuses on the marine and energy markets with products and solutions as well as services. Through innovative products and services, Wärtsilä sets out to be the most valued business partner of all its customers. This is achieved by the dedication of more than 18,000 professionals manning 160 Wärtsilä locations in 70 countries around the world.

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Thorvik International Consulting AS provides services for European energy and environment industries, in recruitment, strategy and government affairs work.

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Thorvik International Consulting AS provides services for European energy and environment industries, in recruitment, strategy and government affairs work.

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Friday, 09 January, 2009, 02:20 GMT | more >>

Bow completes Oilex deal

By Upstream staff

Australian explorer Bow Energy has finalised its deal to buy Oilex’s onshore Queensland oil and gas assets for a combination of shares and options.

The company paid Oilex 15 million shares and 15 million five-year options to buy Bow shares at A$0.50 each (US$0.38) for a 60.44% interest in the Rookwood oilfield and an additional 42.5% stake in the Donga oilfield.

The deal also gives Bow an additional 40% stake in the Barcoo Block of ATP 794P, which it has an existing 25% interest that it earned after funding 60% of the Banff-1 duster.

Bow will drill two appraisal wells in the Donga oilfield later this month and has mapped several new oil leads and prospects for inclusion in the Surat farm-out projects and as potential drilling targets in 2007 and beyond.