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Bayerngas continuous growth on the Norwegian Shelf

Bayerngas continuous growth on the Norwegian Shelf
Bayerngas continuous growth on the Norwegian Shelf

Bayerngas Norge has today been awarded 6 licenses on the Norwegian Continental Shelf. The awards are the result of applications in the Applications in Predefined Areas (APA) for 2010. The awards represent another milestone for a company with significant ambitions for future growth.

Bayerngas Norge has today been awarded 6 licenses on the Norwegian Continental Shelf. The awards are the result of applications in the Applications in Predefined Areas (APA) for 2010. The awards represent another milestone for a company with significant ambitions for future growth.

"We have prepared an ambitious program for 2011 with extensive exploration activities and drilling of 9 wells in total in Norway, Denmark and the UK. We will focus on organic growth in 2011" says Arne Westeng, managing director of Bayerngas Norge.

Bayerngas has seen a strong growth since the start up in 2006 and intends to grow further. The licenses are all inside strategic important areas for the company. Four licenses are in the North Sea and two in the Southern part of the Norwegian Sea. They all fit well into the existing portfolio of Bayerngas Norge.The Company has activities in Norway, Denmark and the UK with a total of 46 licenses. The Company has two producing fields and one field close to start up of production. In addition the Company has three fields under development and three licenses where plans for development are being considered. Furthermore the company holds many prospective exploration licences. Today the Company received another 6 licenses.

"The awards are strategically important to us and an important step to strengthen our position on the Norwegian Continental Shelf" says Arne Westeng.

Bayerngas Norge has established a competent organization with substantial know-how and financial capacity to develop new licenses. The Company will continue to actively participate in future license rounds and compete for attractive licenses.