Brazil: Norse Energy backs out of Dende play
Norse backs out of Dende play
Norwegian oil player Norse Energy will not take part in the drilling of the Dende prospect or BCAM-40 Block, in offshore Brazil.
The company viewed the risk of this prospect to be significant and thus recommended the consortium to study the results from the Cravo prospect, drilled earlier this year, prior to a decision on Dende.
The company owns 10% interest in the block.
Two of the four partners in the consortium have opted to drill the prospect sole risk.
This operation has begun, the company said in a statement.
Consequently, the company will have no exploration costs associated with the drilling of the Dende exploration well.