September 20, 2014 11:06 AM ET

Oil, Gas and Consumable Fuels

Company Overview of VNG Norge AS Prior to merger with VNG Norge (Operations) AS

Company Overview

As of October 1, 2009 VNG Norge AS was acquired by VNG Norge (Operations) AS. VNG Norge AS engages in the exploration and production of oil and gas. Its exploration operations are concentrated on the NCS in the Barents, North and Norwegian Seas, and on the Central Graben area of the Danish North Sea. The company was incorporated in 1983 and is based in Stavanger, Norway.

Laberget 22

Stavanger,  4020

Norway

Founded in 1983

Phone:

47 51 53 89 00

Fax:

47 22 01 04 71

Key Executives for VNG Norge AS Prior to merger with VNG Norge (Operations) AS

VNG Norge AS Prior to merger with VNG Norge (Operations) AS does not have any Key Executives recorded.

VNG Norge AS Prior to merger with VNG Norge (Operations) AS Key Developments

Rocksource ASA Announces Farm-In Agreement with VNG Norge AS

Rocksource ASA announced a farm-in into PLN 586 in the Norwegian Sea. The operator VNG Norge AS has now finalized work on establishing a new partnership, with Faroe Petroleum Norge AS, Rocksource and an undisclosed third party entering the license. To allow for closing of farm-in agreements with the new licensees, operator VNG will seek an additional three month delay to the drill-or-drop deadline. VNG has however reassured the partners that their goal remains to utilize the company's drilling slot in the first quarter of 2014, and that the delayed drill-or-drop date is not expected to influence this timeline. PLN 586 contains the Pil & Bue prospect which has been mapped by Rocksource as a low to medium risk oil prospect with seismic Direct Hydrocarbon Indicator (DHI) uplift and potential for fast track development in the event of a discovery.

VNG Norge AS Announces Four New Licenses

VNG Norge AS has been granted a further four production licenses on the Norwegian Continental Shelf under the Norwegian government’s APA 2012 licensing round. The licenses are located in the central and northern North Sea and are thus situated in the company’s main areas of interest. For two of the licenses, the company will be functioning as the operator, holding a 40% share in each case. The latter of these two licenses concerns the extension of a participation already held by the company.

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Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 19, 2014
Draugen Field in Norwegian Sea
 

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