Capricorn Norge AS granted drilling permit for exploration well southeast of Norne

STAVANGER -- The Norwegian Petroleum Directorate has granted Capricorn Norge AS a drilling permit for well 6508/1-3 cf. Section 15 of the Resource Management Regulations.

Well 6508/1-3 will be drilled from the Transocean Arctic drilling facility in position 65 58`25.73 N and 08 09`49.06 E.

The drilling program for well 6508/1-3 relates to the drilling of a wildcat well in production licence 758. Capricorn Norge AS is the operator with an ownership interest of 50%, and the other licensees are Skagen44 AS with 30% and Lundin Norway AS with 20%.

The area in this license consists of parts of Blocks 6508/1, 6608/10 and 6608/11. The well will be drilled about 6 km southeast of Norne field.

Production licence 758 was awarded on Feb. 7, 2014 in APA 2013. This is the first exploration well to be drilled in the licence.

The permit is contingent on the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.