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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: drsvelte who wrote (19949)4/22/1998 8:39:00 AM
From: Teddy  Read Replies (1) of 95453
 
FGII should be downgraded, there are more than enough rigs to drill this:

Dow Jones Newswires -- April 22, 1998
Danish Govt To Issue 17 North Sea Exploration
Concessions

Dow Jones Newswires

COPENHAGEN -- Denmark intends to issue 17 new oil and gas exploration concessions for the
Danish sector of the North Sea, Svend Auken, minister of the environment and energy, said in a
statement Wednesday.

The concessions cover an area of 6,341 square kilometers in the western section of the North sea, or
about half of the entire area tendered by the state in this fifth concession round.

The fourth round, in which a total of nine concessions were granted, took place in 1995.

'The high level of interest in this round and the fact that so many applications could be fulfilled is very
satisfactory,' Auken said.

The energy minister expects a formal signing of the concessions to take place in June, allowing the
exploration work to get underway during the summer.

The work program covered by the concessions includes 13 exploration drillings - which the
companies are obliged to drill - and an additional eight which may also be undertaken. Further, the
concession-holders will be obliged to carry out a series of seismic and geological investigations.

The 17 concessions which the energy minister expects to issue are as follows:

2 concessions operated by Clam Petroleum B.V.
1 operated by Marathon Petroleum Denmark, Ltd.
3 operated by Phillips Petroleum Intl. Corp. Denmark
1 jointly operated by Enterprise Oil Denmark Ltd. Danish Branch and Dansk
Operatorselskab i-s
1 operated by Kerr-McGee Denmark Ltd.
2 operated by Agip Denmark B.V.
2 operated by Amerada Hess A/S
1 operated by Brabant Petroleum Limited
3 operated by Maersk Olie og Gas AS
1 operated by Operatorselskab i-s

All 17 concessions are joint ventures comprising between two and four companies.
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