Pertra buys stake in N.Sea prospect from Exxon

OSLO, Oct 8 (Reuters) - Norwegian independent oil firm Pertra ASA PERTRA has agreed to buy a 25 percent stake in the North Sea Eitri prospect from ExxonMobil XOM.N by assuming Exxon's share of the costs of a well, Pertra said on Monday.

The deal gives Pertra a quarter of the new production licence PL 027D, near the Jotun field, the company said.

“Pertra considers the Eitri prospect to be a very interesting exploration opportunity, an analogue to the nearby Ringhorne Field and in the same Paleocene play model as our recent Storskrymten discovery,” Pertra said in a statement.

Pertra said it would operate one exploration well on the prospect, with a likely start-up of drilling from the Bredford Dolphin rig in the second quarter of 2008.