Gulf Oil and Gas accountACCOUNT

Energy ASA Completes Farm-Down on PL497/PL497B

Source: www.gulfoilandgas.com 9/28/2012, Location: Europe

Bridge Energy ASA has through its wholly owned subsidiary Bridge Energy Norge AS (Bridge) completed the agreement with Agora Oil & Gas AS (Agora) which is 100% owned by Cairn Energy PLC (Cairn), for the farm-down of a 15% working interest in production licences PL497 and PL497B on the Norwegian Continental Shelf.

After the transaction Bridge holds a 15% interest in the licences. Agora, will as a consideration for the transaction carry a substantial share of Bridge's well cost. The licences contain the Geite prospect, which will be tested by the ongoing exploration well 7/11-13.

Alfred Kjemperud, Managing Director of Bridge Energy Norge, commented: "We are pleased that Cairn, through Agora, has joined us in the PL497/497B licences demonstrating support for the technical potential of the acreage."

Acquisitions and Divestitures News in Norway >>

Australia >>  1/20/2020 - The Board of Metgasco Ltd has executed a re-stated L14 Western Flank farm-out agreement with RCMA Australia Pty Ltd (“Jade”) and Vintage Energy Ltd. ...
United Kingdom >>  1/20/2020 - The Company is pleased to provide an update to the announcement of 4 November 2019, regarding the exclusivity agreement (the "Agreement") in respect o...

Angola >>  1/17/2020 - ANPG, State concessionaire for oil & gas rights in Angola, assigned Block 28 to Eni (as Operator with 60%), as a result of the international competiti...
Russia >>  1/17/2020 - Gazprom Neft and Shell have agreed to expand their JV Salym Petroleum Development. The company’s portfolio of assets will include a license for the ri...

United Kingdom >>  1/17/2020 - RockRose Energy has announced that, subject to receipt of approval by the Secretary of State, it will be passing operatorship of the Brae Area to TAQA...
Norway >>  1/16/2020 - On the 14 January 2020 the Norwegian APA 2019 Offshore Licensing Round (Awards in Predefined Areas) were announced. Chrysaor Norge was awarded a total...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Norway Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.