Noreco reduces ownership in Xana licence
Published by Joseph Green,
Editor
Oilfield Technology,
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
Read the article online at: https://www.oilfieldtechnology.com/drilling-and-production/15012015/noreco-reduces-ownership-xana-licence-160/
You might also like
Natural carbon sinks absorb 40% of human CO2 emissions and are not valued in most climate models, says Wood Mackenzie
New analysis finds land and ocean sinks are weakening and carbon prices and coverage fall short of what is needed to protect them, leaving net zero strategies built on unverified foundations.
