Brief: Det Norske to buy Barents Sea license stake from North Energy

North Energy ASA

24/08/2015 12:09

Aug 24 (Reuters) - North Energy : North Energy Asa 
 NORTH.OL  
    * Sells interest in pl 722 in the Barents Sea 
    * Det norske will acquire North Energy's 10 per cent 
interest in production licence 722 
    * The licence was awarded in the 22nd licensing round, and 
is 
subject to a drill or drop decision in the second quarter of 
2016 
    * Following completion of the agreement, the partners in PL 
722 will comprise GDF Suez E&P Norge AS, operator with a 30 per 
cent interest, Pure E&P Norway AS 20 per cent, Spike Exploration 
Holding AS 15 per cent, Tullow Oil Norge AS 15 per cent, Explora 
Petroleum AS 10 per cent and Det norske oljeselskap ASA 10 per 
cent 
    * The effective date of the agreement has been set as 1 
January 2015, and it is conditional on the approval of the 
Norwegian authorities 
 
Source text for Eikon:  ID:nHUG89F8Wq  
Further company coverage:  NORTH.OL  
 
 (Reporting By Terje Solsvik) 
 ((terje.solsvik@thomsonreuters.com;))