On May 31st Bridge Energy Norge AS completed the agreement with Total E&P Norge AS for the farm-down of 40% working interest in production licences PL554 and PL554B on the Norwegian Continental Shelf. The agreement also includes transfer of operatorship from Bridge Energy to Total. After the transaction Bridge Energy hold 20% working interest in the two licences. The main prospect in the licences, Garantiana, is scheduled for drilling Q1 2012 with the semi-sub Borgland Dolphin.
Einar Bandlien, Bridge Energy CEO, commented "We are delighted that Total EP Norge has joined us in the PL554 licence which demonstrates robust support for the technical potential of the acreage. In addition, we welcome the wealth of capability Total brings to the partnership in its role as Operator."
