Bayerngas Norge AS // The independent oil & gas company

31. August 2010

Bayerngas farms into Clipper South and Cygnus in the UK Southern North Sea.

Bayerngas UK Ltd ("BGUK"), a wholly-owned subsidiary of Bayerngas Norge AS has entered into separate agreements relating to two important gas developments, both located in the UK Southern North Sea.

Under the first agreement, Bayerngas North Sea Ltd, a BGUK subsidiary, will acquire a 25% interest in the "Clipper South" project from Fairfield Energy. Fairfield retains a 25% interest and RWE Dea remains as Operator with a 50% interest.

Under the second agreement, Bayerngas E & P Ltd, also a subsidiary of BGUK, will acquire Endeavour Energy’s 12.5% interest in the "Cygnus" project where the partners are GDF Suez (38.75%, Operator) and Venture North Sea (48.75%).

These two transactions are significant to the Bayerngas Norge Group. In combination, the two projects will represent peak production of around 0.5 billion cubic metres of gas per annum, net to BGUK, or the equivalent of over 8,000 barrels of oil per day. This fits at the lower end of Bayerngas’ strategic ambition in the UK, but nevertheless it is an excellent foundation on which to build additional growth through exploration and development projects.

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26.March 2010

Plan for Development and Operation (PDO) for the Trym field approved

The Government approved the PDO for Trym on Friday 26th of March 2010.

Trym is situated South on the Norwegian Continental Shelf (NCS) approximately 50 kilometers East of the Valhall field and three kilometers from the Danish Continental Shelf. Dong E&P is operator for the field and Bayerngas the only partner (50/50).

Trym is a subsea development and production will be shipped 5,5 kilometers to the Harald platform on the Danish shelf. Trym is the first field in Norway to be tied into Danish infrastructure.

Investments on Trym are expected to be 2,6 billion kroner. The operator expects to produce 4,4 billion Sm3 gas and 1,1 million Sm3 condensate and expects profitable production until 2026.

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NEWS ARCHIVE

Plan for Development and Operation (PDO) for the Trym field approved

The Government approved the PDO for Trym on Friday 26th of March 2010.

Bayerngas Norge is awarded six licenses in the APA 2009

Bayerngas Norge is awarded six licenses in the APA 2009 licensing round on the Norwegian continental shelf. The award marks an important milestone for the company, which has strong ambitions for future growth and development.

Appraisal well Ravn – 3 in the Danish North Sea confirmed oil

Bayerngas Norge AS, through its wholly owned Bayerngas Petroleum Danmark as, is a partner in License 5/06 in Denmark. As operator for the companies in this license Wintershall Nordzee B.V. has drilled the Ravn-3 (5504/5-2) appraisal well in the westernmost part of the Danish part of the North Sea.

Grand opening of our new offices!

Bayerngas Norge AS farms into PL409, offshore Norway

Bayerngas Norge AS has entered into an agreement with Lundin Petroleum to farm into PL409.

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