Noreco reduces ownership in Xana licence

As part of a multi-lateral agreement, a wholly owned subsidiary of Norwegian Energy Company ASA is reducing its ownership in licence 9/95 on the Danish continental shelf from 20.1% to 16%.

The ownership is being transferred to Nordsøfonden, which is the Danish State’s oil and gas company.

As previously reported, drilling of the exploration well 9/95 Xana commenced in December. The transfer of ownership has already been approved by the Danish authorities and becomes effective immediately. Nordsøfonden will consequently carry its share of the costs related to the Xana well.


Adapted from press release by Joe Green

Published on 15/01/2015


Get your FREE Oilfield Technology magazine »

Get your FREE trial of Hydrocarbon Engineering magazine »

Get your FREE trial of World Pipelines magazine »


 
 

Related articles

Denmark’s competitive landscape

Business Monitor International looks at the competitiveness of Denmark’s oil and gas sector.

Denmark – the last of a dying breed

Douglas-Westwood considers whether Denmark is the last of a dying breed.

Noreco and North Energy agree asset swap

Noreco Norway and North Energy have agreed to swap assets in two licenses on the Norwegian Continental Shelf.

Recommend magazines

  Oilfield Technology