Aker Exploration strengthens its Norwegian Sea portfolioAker Exploration has entered into agreements with the international oil company Eni Norge to acquire ownership interests in two licenses in the vicinity of the Åsgard field. The agreements further strengthen Aker Exploration’s position in the Norwegian Sea.
- We are positioning ourselves in a part of the Norwegian Sea where hydrocarbon resources have already been identified. Our four licenses in the Norwegian Sea are in the vicinity of the producing fields Åsgard and Draugen, says Aker Exploration President and CEO Bård Johansen.
Aker Exploration will acquire 30 percent of Eni Norge’s 100 percent ownership of license 259 and Aker Exploration has committed a rig slot with the Aker Barents drilling rig. Further, Aker Exploration will acquire the whole of Eni Norge’s 55-percent ownership interest in license 256. The two licenses comprise blocks located west of Åsgard in the Norwegian Sea. Eni NorgeNorge is a wholly owned subsidiary of the Italian energy company Eni Norge .
- Aker Exploration has entered into strategically important agreements with Eni, Hydro, Talisman Energy, and Pertra. These agreements confirm the attractiveness of the company’s business model to large and small, Norwegian and international organizations, says Mr. Johansen.
Bård Johansen continues: - We are reinforcing our position in the northern regions of the Norwegian Continental Shelf. Aker Exploration’s license stakes in the Norwegian Sea are ideal for the deployment of Aker Barents, the world’s largest, most advanced drilling rig. - The semi-submersible platform is built for year-round drilling under harsh weather conditions. The rig meets the strictest environmental standards and is equipped to handle drilling in reservoirs featuring high pressure and temperatures.
- Aker Exploration is aggressively targeting northern waters as an oil and exploration company with a difference. Our objective is to become a recognized operator, says Johansen.
Aker Exploration is pre-qualified as a licensee on the Norwegian Continental Shelf and has applied to the Norwegian authorities to be pre-qualified as an operator. The company has a NOK 3.2 billion capital base. Aker Exploration has entered into a long-term drilling agreement with Aker Drilling for deployment of Aker Barents, starting 31 October 2008. Aker Exploration is conducting comprehensive surveys to identify offshore hydrocarbon resources using both electromagnetic Seabed Logging and seismic data.
Aker Exploration’s transactions with Eni Norge are contingent upon approval by Norwegian regulatory authorities.