North Energy ASA: Business description, financial summary, 3yr and interim financials, key statistics/ratios and historical ratio analysis.
Provider: Reuters Investment Profile
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North Energy ASA Spuds Appraisal Well 7225/3-2 on Norvarg in License PL 535 Shared with Total, Det Norske, Valiant Petroleum Norge and Rocksource ASA's Rocksource Exploration Norway
North Energy ASA announced that drilling of an appraisal well on the Norvarg discovery in PL 535, shared with, among others, Rocksource ASA’s Rocksource Exploration Norway, in the Barents Sea began on April 29, 2013. The site lies in 377 meters of water approximately275 kilometers north of the Hammerfest LNG plant on Melkoya. Being drilled by Ocean Rig's Leiv Eiriksson semi, it is expected to take 69-104 days. The main objective of the well is to prove up the volume potential in the northeastern segment of the Norvarg closure. The partners in the license are Total (operator with 40%-interest), North Energy (20%), Det Norske (20%), Valiant Petroleum Norge (13%) and Rocksource Exploration Norway (7%).
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