Project Profile
Location: North Sea, south of the Gullfaks area, Norway
Area: 70.841 km2
Licence Expiry Date: July 23rd 2014
PL509CS License is an oil and gas exploration license located North Sea, south of the Gullfaks area, in Norway. Fortis Petroleum Norway AS holds 50% interest North Energy ASA 40% and Rocksource Exploration Norway AS 10%. Lime Petroleum Norway has on 20 February 2014 signed an agreement with North Energy to acquire a 20% stake in the licence. North Energy was awarded operatorship of the licence in Predefined Areas (APA) on 21 January 2014. The acquisition of the 20 per cent stake in PL 509CS is pending regulatory approval. Lime Norway is a wholly-owned subsidiary of Lime Petroleum. Lime Petroleum is a jointly-controlled entity by Rex International Holding (65%) and Hibiscus Petroleum (35%).
Operators:
North Energy ASA: Operator with 40% interest
Fortis Petroleum AS: 50% interest
Rocksource Exploration AS: 10% interest