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Monday, 01 December, 2008, 23:10 GMT | more >>

Det Norske does a swap



By Upstream staff 

Norwegian player Det Norske Oljeselskap has sealed an asset swap with Concedo, covering licences in the Norwegian Sea.

Under the deal, Det Norske will farm down 15% of its 100% stake in Production Licence 383, which is scheduled for drilling in the fourth quarter of this year, against 15% in Exploration Licence 485.

Det Norske said the move would balance its exploration portfolio.

The agreements are subject to approval by licence partners and the authorities.


Tuesday, 11 March, 2008, 08:48 GMT  | last updated: Tuesday, 11 March, 2008, 10:28 GMT

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