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    PGS increases ownership of Varg field

    News // April 12, 2002
    PGS has increased its ownership in the Varg oilfield in Norway.

    Its holding now stands at 70 per cent, following the buyout out Statoil's 28 per cent.

    Under this new agreement, PGS is due to take over the holding in production licence 038 with effect from 01 August.

    Production is currently via their FPSO the Petrojarl Varg.

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