Noreco announces drilling on Snurrevad has started

Norwegian Energy Company ASA (Noreco) is pleased to announce that drilling of exploration well 7120/6-3 S on the Snurrevad prospect in licence PL490 has started.

The well will target the Snurrevad prospect, which is located north of the Snøhvit field in the Barents Sea. The well is being drilled using the drilling rig Transocean Arctic.

Noreco has 20 percent interest in licence PL490. Lundin is the operator with 60 percent interest, while Spring Energy has 20 percent interest. Subject to approval from the authorities, Spring Energy will acquire a 10 percent interest, increasing their interest to 30 percent.

Lundin will have a 50 percent working interest after the farmout.

Source: Noreco.