Explora set for stake in offshore Norway licenses

Offshore staff

STAVANGER, Norway – Explora Petroleum has agreed to farm into three licenses in the Norwegian North Sea.

Assuming approval from the Norwegian authorities, Explora will take Wintershall’s 15% stake in licenses PL375, 375B, and 375C, which contains the 34/4-11 (Beta) oil discovery. All the permits are near the Statoil-operated Snorre field.

Other partners in the licences are Suncor Energy Norge (operator, 65%) and Talisman Energy Norge AS (20%).

John Pickard, CEO of Explora Petroleum, said: “The Beta oil discovery has been proved by two wells, 34/4-11 and 34/4-13S. We…plan to take an active role in the appraisal of the extent of the discovery.”

01/03/2013

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