Det norske oljeselskap and E.ON E&P Norge have agreed to exchange interests in two licenses offshore Norway.
Under the agreement, E.ON will transfer 20% of PL 457 in the central North Sea to Det norske.
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The concession is adjacent to PL 001B, which contains the Det norske-operated Ivar Aasen field.
After drilling of the Asha discovery in late 2012, it was identified that Ivar Aasen extends into licence 457.
Ongoing unitisation negotitaions between the Ivar Aasen partners and the 457 licence partners are expected to be completed by the end of June 2014.
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After completion of the transaction, E.ON will receive a 15% interest in licence 613 in the Barents Sea and a 10% stake in license 676 S in the North Sea, as well as a cash consideration.
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By GlobalDataDet norske increases its ownership in license 457 from 20% to 40% and the company’s share in license 613 decreases from 35% to 20%.
The company’s share in license 676 S decreases from 20% to 10% upon completion of the transaction, which is subject to approval from the relevant authorities.
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