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    New Norwegian licence shares for DONG

    News // July 18, 2003
    DONG has strengthened its portfolio in Norway with the purchase of another two licences.

    On one of them exploratory drilling has just commenced.

    DONG's Norwegian activities have grown steadily in the last couple of years, and now the company has added two new numbers to its list of licence shares, bringing the total so far up to 16 licences.

    Last week the company signed a contract with Norsk Agip for the purchase of Agip's 40 per cent share in licence PL239.

    Norsk Agip is a wholly owned subsidiary of Eni SpA. With this purchase DONG expects to take over the operatorship of the licence as well provided that is approved by the licence partners. The operator is the 'contractor' that takes care of all the practical work on behalf of all the partners in the consortium.

    Besides the share in PL239, DONG has acquired Norske Shell's 10 per cent of licence PL256, which is situated in the central part of the Norwegian sector of the Continental Shelf.

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