VNG Norge has entered into a farm-in agreement with Tullow Oil Norge for a 10 % share in PL550
PL550 lies in the North Sea, in the same area as two of our newly awarded production licences from APA 2013, PL741 and PL742, and in the vicinity of the Brage field. It is a prospective area with hope for an oil discovery, close to existing infrastructure.
«This is in line with our strategy to farm in to prospective licences to accelerate our exploration process, and to be able to maintain a high activity level when it comes to drilling exploration wells. With this transaction, together with last year’s APA-awards, we are increasing our footprint significantly in one of our core areas, ” says a pleased managing director, Atle Sonesen.
The Gotama exploration well is scheduled to spud in April, using the Borgland Dolphin drilling unit. The primary target will be oil in the Draupne formation, secondary targets are in the Sognefjord/Fensfjord/Brent formations.
Licence partners are Tullow Oil Norge (operator, 80 %) and Det norske (10 %).