Lime Petroleum’s wholly-owned subsidiary Lime Petroleum Norway (Lime Norway) has signed an agreement to acquire 50% share in EnQuest Norge’s licences in the Norwegian Sea in water depths of 370m.
The licences PL760 and PL760B are located 25km west of the Norne oil/gas field.
Go deeper with GlobalData
Upon completion of the transaction, Total E&P Norge (operator) will have 50% ownership in the licences and the remaining 50% will be held by Lime Norway.
Lime Norway said the transfer is subject to authority approval.
Lime Norway CEO Ivar Aarseth said: "We are pleased to have secured these attractive blocks close to infrastructure and partnering with the reputed operator Total."
See Also:
Drilling is expected to take place in 2016 or 2017, given a drill decision milestone in February 2016, the company said.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataThe two Norwegian Sea licences are expected to raise the company’s licences in Norway to 18.
In a separate announcement, Lime Norway reported that well 2/11-11 on the Haribo prospect in PL616 has been completed by operator Edison Norge.
Drilled using the semi-submersible rig Transocean Searcher in a water depth of 70m, 10km from the Valhall platform in the southern part of the Norwegian North Sea, the well is defined as dry.
PL616 partners include Edison Norge (operator) 25%, Noreco Norway 20%, Concedo 20%, Lime Petroleum Norway 15%, North Energy 15% and Skagen 44.5%.
Image: PL760 and PL760B are located 25km west of the Norne oil/gas field in the Norwegian Sea. Photo: courtesy of Lime Petroleum Norway.
