DEA to acquire interests in seven Norwegian Sea licenses

DEA Norge AS is to acquire interests in seven licenses in the Njord area in the Norwegian Sea from Engie E&P Norge AS.

The agreement includes: 20% in the Njord field (PL 107 and PL 132); 10% in the Hyme field (PL 348); 10% in the Snilehorn discovery (PL 348B); 15% in the Noatun discovery (PL 107B and PL 107D); and 20% in the North Flank discovery (PL 107C).

Subject to government approval, the agreement is scheduled to be effective Jan. 1, 2017.

After the transaction, the license share for DEA will be 50% in PL 107 and PL 132; 27.5% in PL 348;  27.5% in PL 348B; 45% in PL 107B and 20% in PL 107D; and 50% in PLC 107C.

DEA said the acquisition will add about 45 million boe in reserves and contingent resources.

Engie said the divestment will reduce its exposure in the area by 50%, but that the company will still “hold a solid position” in all of the licenses.

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