Norwegian explorer Noreco has completed an acquisition in Denmark on the heels of agreeing to acquire Talisman's assets in the country. The company's 100% owned affiliate Altinex has acquired Chevron's 12% stake in two Central Graben area licenses. Jurassic prospects have been identified in the 9/95 and 9/06 licenses. A well is scheduled to drill the high-profile Gita prospect in the summer of 2008. Maersk operates Gita, which has estimated reserve potential of 1-4 Tcf. Meanwhile, Noreco will pay Talisman US$ 83 million for interests in licenses 6/95 (including the Siri field) and 13/06. The acquisition is effective from 1 January 2008. Approval from the Danish authorities is expected in June 2008.
This article is extracted from International Oil Letter, Vol 24 issue 19, published 12 May 2008.© Copyright 2008, IHS and its affiliated and subsidiary companies, all rights reserved. All trademarks belong to IHS and its affiliated and subsidiary companies unless otherwise noted, all rights reserved. The material and data contained herein have been compiled for the exclusive use of subscribers of IHS and no part hereof shall be reproduced, quoted or published in any manner without the written consent of IHS. Information presented in and used by IHS is obtained from operator sources but is not warranted as to its accuracy by the publishers.
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