illus. courtesy Aker Solutions

Norway-based “rig-for-oil” player Aker Exploration will secure the use of semi-submersible drill rig Aker Barents for a 30 percent stake in a Norwegian production license and an earlier shot at oilfield revenues.

The company and E&P outfit Det Norske Oljeselskap, or Det Norske, have agreed Aker Exploration would also let go of 12.5 percent in production license PL460 for the stake in license PL463S. The companies already had large stakes in the licenses they gained more of, and Det Norske’s interest in its operated PL460 rises to 52.5 percent.

Aker Exploration now wields ownership interests in 17 northern licenses offshore Norway.

“The company aims to drill between five and seven wells per year with the Aker Barents,” a statement said. The first will be Lundin Petroleum’s PL 304.

Det Norske, meanwhile, said gaining access to the Frøy field’s infrastructure for nearby satellites was key to its dealmaking, although there are no exploration guarantees:

“This is a stratigraphically divided license including everything above top chalk,” a Det Norske statement said.

PL 463S is an area northwest of the producing Oseberg field, and more drilling in the license could be okayed for 2009.

Det norske is operator (duty-holder) of both PL 460 and PL 463S.

Tags: Aker Exploration