Maersk Oil has been awarded seven licences offshore Norway in the APA Licencing Round, strengthening its position around the large Avaldsnes discovery and other Maersk-oil operated licence areas.
“The award of new licences significantly adds to our exploration portfolio and represents another step towards building material business in Norway, a country that has seen some large discoveries recently,” said Morten Jeppesen, Managing Director of Maersk Oil Norway.
“This licence award boosts our strategy of focusing on the areas on the Norwegian Continental Shelf where Maersk Oil believes it can add most value through our technical expertise and experience,” Jeppesen said.
Maersk Oil entered Norway in 2003 and holds a 20% share in both the Avaldsnes oil discovery and the Zidane gas discovery. It is currently drilling its first operated well at the T-Rex prospect. The next operated exploration well will be drilled later in 2012.
“The new licences add to the success we have had in the South Viking Graben region, where the Avaldsnes discovery lies, and on the Halten Terrace area, home to the Zidane discovery. With two new operated licences, our activity level will remain high in the coming years,” Jeppesen said.