As part of its strategy of building a balanced portfolio of assets on the Norwegian Continental Shelf, Spring Energy has acquired assets from Wintershall.
The assets that Spring Energy has purchased include:
1) 5 % working interest (WI) in PL375, which contains the significant Beta oil discovery that was announced in January this year and where an appraisal well is due to be drilled later this year.
2) 20 % WI in PL 337, located in the North Sea and where the Storkollen prospect currently is being drilled. Results from this well are expected within the next 2-3 weeks and if successful would be looked at as a tie-back candidate to the Varg or Grevling fields.
3) 35 % WI and Operatorship in PL 344, located in the Statfjord/Murchison area of the North Sea. Spring currently has 30 % WI in PL344 and hence will have a 65 % WI following this transaction.
This is Spring Energy's first operated license.
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