By acquiring participating interest in seven licenses in the Norwegian Sea's Njord area, including 20% increased interest in Njord Field, from Engie E&P Norge AS, DEA strengthened its position in Norway, the Germany-based company said Dec. 23.

Hans-Hermann Andreae, managing director of DEA Norge AS, said that altogether, about 45 million barrels of oil equivalent in reserves and contingent resources were added.

The agreement with Engie E&P Norge AS includes 20% in Njord Field (PL107 and PL132), 10% in Hyme Field (PL348), 10% in the Snilehorn discovery (PL348B), 15% in the Noatun discovery (PL107B and PL107D) and 20% in the North Flank discovery (PL107C).

The transaction will be effective from Jan. 1, 2017, subject to governmental approval.

After the transaction, DEA’s shares in the licences will be:

- PL 107 AND PL 132 (Njord): 50%;
- PL 348 (Hyme): 27,5%;
- PL 348B (Snilehorn): 27,5%;
- PL 107B and PL 107D (Noatun): 45% and 20%; and
- PL 107C (North Flank): 50%.

Offshore