Det norske a winner in the Licensing Round
Det norske oljeselskap emerged as a winner in the Awards in Predefined Areas (APA) 2008 licensing round. Det norske has been offered ownership in seven licenses, and the role as operator in five of these.
Following this award, Det norske has ownership in 46 licenses and is operator for 26 licenses on the Norwegian Shelf.
As many as 47 companies applied for acreage in the APA 2008 round.
In total, Norwegian authorities have offered 34 licenses to 40 companies, with 19 companies being offered a role as operator.
Head of exploration in Det norske, Tom Bugge, is very pleased with this result.
-The offer is in line with what we applied for. We will strengthen our position in the Jotun- area, the southern North Sea and in the Norwegian Sea. I see this as a declaration of confidence in the work we do. Based on this, we can further develop Det norske as the most aggressive explorer on the Norwegian shelf. Frankly, I am overwhelmed by the positive reaction we have received for our application.
The license offers include two commitment wells. In other licenses Det norske will perform initial work before any drilling decision is made.
For more information about the APA 2008 awards, please visit our home page: www.detnor.no
Investor contacts:
Finn Øistein Nordam, CFO, tel. +47 98 28 93 82
Knut Evensen, Vice President Investor Relations, tel +47 95 07 76 22