Det norske oljeselskap ASA (DETNOR) has signed an agreement with E.ON E&P Norge AS (E.ON) to swap two exploration licenses plus a cash consideration for a 20 percent interest in license 457, containing parts of the Ivar Aasen deposit.

Licence 457 is located adjacent and to the east of licence 001B (Ivar Aasen, DETNOR 35 percent and operator) on the Utsira High in the North Sea. Following drilling of the Asha discovery in late 2012 it was established that Ivar Aasen extends into licence 457. Unitisation discussions between the Ivar Aasen partners and the 457 licence partners are ongoing, with the aim to conclude such discussions at the end of this month.

Upon completion of this transaction, E.ON will receive a 15 percent interest in licence 613 in the Barents Sea and a 10 percent interest in license 676 S in the North Sea plus a cash consideration.

Tags: Det norske oljeselskap ASA, E.ON