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    Cal Dive acquires working interest in deepwater discovery

    News // March 18, 2005
    Energy Resource Technology (ERT), a wholly owned subsidiary of Cal Dive International in the US, has taken a 30 per cent working interest in Telemark, a deepwater discovery operated by Norsk Hydro USA Oil & Gas, which now owns a 70 per cent working interest in the development.

    The Telemark development is located in 4,300ft of water at Atwater Block 63 and was discovered in the year 2000 under the initial prospect name 'Champlain.'

    Norsk Hydro had already formed a project team, which will be located in Hydro's office in Houston, Texas, and Cal Dive and ERT personnel will be actively working on the team. The project is currently in the preliminary engineering design phase of development.

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