Extraordinary General Meeting 8 November 2007 Approval of Integration Agreement between DNO and Pertra
Rationale Behind the Merger Since the opening for independent oil companies on the NCS in 2000, DNO and Pertra have become the two largest Norwegian operating companies behind StatoilHydro By merging the two companies, the company…
Det norske oljeselskap ASA An All-Norwegian Company Det norske License trade E&P E&P Exploration Stavanger Oslo Trondheim Harstad 2 employees 25 employees 43 employees 8 employees
Structure Phase 1 84% to be completed 15 November 2007
Structure Phase 2 100% expected to be completed early 2008
Structure Phase 3, the Merger scheduled to be completed during 2008
No. 2 Position on the NCS Established No of operatorships on NCS Source: NPD 2007
The Norwegian Independents Det norske oljeselskap, Revus Energy, and Noreco hold the pole position in number of licenses Det norske oljeselskap holds the superior position as operator Det norske oljeselskap holds the leading…
Growth of employees Accelerated Growth NOIL Energy The combined company will Pertra have the 2nd largest exploration capacity in terms of employees, database, and rig assignments in Norway Competence centres in Oslo and Trondheim,…
Increased Exploration The combined company is already a significant contributor to Norwegian exploration So far in 2007, the combined companies has spudded 3 exploration wells The post-2000 newcomers, Lundin and Det norske…
38 Licenses in the Combined Company Operator in 18 licenses Partner in 20 licenses Production from Glitne, Enoch, and Varg 50% in the Fry field 45% in the Storskrymten discovery 30% in the Ragnarrock discovery 15% in the Goliat…
Operatorships in the Combined Company 5 operated licenses in the Norwegian Sea PL 447: Litjormen, on drilling schedule for 2009 PL 383: Struten, on drilling schedule for 2008 PL 432: Nebba, on drilling schedule for 2009 PL 380:…
Producing Assets Net boe/day PL 043 Varg 5 000 Operator: Talisman (65%) 4 500 Det norske oljeselskap interest: 5% 4 000 Net production at present: 525 bopd Small oil field located south of Sleipner. Developed with a 3 500 monotower…
Fields under Development Net boe/day PL 316 Yme (re-development) 25 000 Operator: Talisman (70%) 20 000 Det norske oljeselskap interest: 10% Expected gross reserves: 60 MBO 15 000 The PDO for the re-development of the field was…
Fields under Development Goliat Net boe/day Operator: Eni (65%) 18 000 Det norske oljeselskap interest: 15% 16 000 Expected gross reserves: 200 MBO 14 000 12 000 Strategic asset 10 000 Discovered in 2000 as the first…
Significant Production Growth Ahead Net boe/day Production growth is based on development of 35 000 proven commercial discoveries only Yme, PDO approved 2007 Fry, PDO expected delivered 1H 2008 30 000 Goliat, PDO expected delivered…
NCS an Immature Exploration Region No NPD assesses that 21 bill. b.o.e. is still to be found on the NCS Source: NPD
A Comprehensive Drilling Programme Ahead Approved by License Decided by Operator Pending Optional Det norske oljeselskaps Operated Exploration Wells only
Conclusions Det norske oljeselskap is the 2nd largest Norwegian operating company and constitutes an important player for value creation on the NCS The company will have a continuous activity and growth, making it more attractive to…
Loading...
