Bayerngas Norge is awarded six licenses in the APA 2009
(Thomson Reuters ONE) - (Oslo, January 19 2010) Bayerngas Norge is awarded six licenses in the APA 2009licensing round on the Norwegian continental shelf. The award marks an importantmilestone for the company, which has strong ambitions for future growth anddevelopment.- The award of the six licenses is strategically very important, and in linewith the company's efforts to strengthen our position on the Norwegiancontinental shelf, says Arne Westeng, Managing Director of Bayerngas Norge.Bayerngas Norge has had strong growth and development since the start-up in2006, and is aiming for future growth. The six licenses suits the existingBayerngas Norge portfolio well.Bayerngas Norge has activities in Norway, Denmark and in the UK, with a total of38 licenses. In Norway, the company currently participates in one field inproduction and three field developments.- With an exploration and appraisal budget of approximately NOK 1,0 billion, thecompany has scheduled an exciting program for 2010, with participation in thedrilling of up to 10 wells. We will focus on strong organic growth this year,says Westeng.Bayerngas Norge has through the acquisition of the Norwegian part of PAResources in late 2008, and Genesis Petroleum plc in September 2009, built up asolid knowledge base. The company will continue its active participation infuture licensing rounds, and compete for attractive license shares.For more information, please contactArne Westeng, Managing DirectorPhone: (+47) 40 44 91 02Bayerngas Norge AS is an independent oil and gas company intending to exploitthe natural gas and oil opportunities across the North Sea and Norwegian Sea -with primary focus on developing a profitable gas portfolio. Bayerngas Norge AShas been operating since 2006, and has 42 employees. Bayerngas Norge is owned byBayerngas (53,7%), Stadtwerke M?en (31,3%), Swissgas(10%) and TIGAS-ErdgasTirol (5%). Bayerngas Denmark is a fully owned subsidiary of Bayerngas Norge.[HUG#1375041] Norwegian release: http://hugin.info/139015/R/1375041/337235.doc
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Datum: 19.01.2010 - 12:56 Uhr
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