Project Profile
Location: North Sea, south of the Gullfaks area, Norway
Area: 859.220 sq km
Water Depth: 120-130 m
Licence expiry: 23.07.2014
PL 509S and PL 509BS are located in the North Sea, south of the Gullfaks area in Norway and contain part of Blocks 29/3, 29/6, 30/1 and 30/4. The licenses lie in water depth of 120-130 metres and cover an area of 859.220 km2. Norwegian authorities have approved the transfer of 40% interests and operatorship in production licences from Wintershall Norge to North Energy. A potential discovery could be tied back to existing nearby infrastructure. Drill or drop decision is planned first half 2014. If a positive drill decision is reached, an exploration well could be drilled in first half of 2015. The transfer has economic effect from 1 June 2013.
Rocksource has executed closing of the farm-in agreement with Fortis Petroleum Norway for a 10% interest in licences PL 509S & BS on the Norwegian Continental Shelf (NCS). In PL 509S the company has an option to acquire an additional 15% interest.
Operators:
North Energy: Operator with 35% interest
Fortis Petroleum Norway AS: 35% interest
Lime Petroleum: 20% interest
Rocksource: 10% interest
Contractors:
Electromagnetic Geoservices: contract to carry out acquisition of electromagnetic data in North Energy-operated production licence 509S