By OGJ editors
HOUSTON, Jan. 23 -- PA Resources Norway AS (PAR) will finance the drilling of up to six exploration wells at a cumulative cost of 285 million kroner through a series of farmouts with DNO ASA subsidiary Det Norske Oljeselskap AS.
PAR obtained interests in eight licenses on the Norwegian continental shelf, said DNO, which secured 340 rig-days that it expects will allow for drilling of six to eight wells in 3 years, starting in the fourth quarter.
The transactions involve the following licenses off Norway:
-- PL 001B and PL 242, in which DNO has 35% interest and PAR, 15%.
-- PL 028B (DNO 35%, PAR 15%).
-- PL 305, PL 305B, and PL 341 (DNO 30%, PAR 10%).
-- PL 332 (DNO 20%, PAR 10%).
-- PL 334 (DNO 30%, PAR 10%).
