Nordic Business Report-March 28, 2006-PA Resources AB pre-qualified as licence-holder
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The Swedish oil and gas company PA Resources AB said on Tuesday (28 March) that it had been pre-qualified as licence-holder on the Norwegian continental shelf by the Norwegian Ministry of Petroleum and Energy.
In June 2005 PA Resources AB signed an agreement with Total E&P Norge AS to acquire 10% in the Volve-field. The oil field is under development and production is estimated to start during the first quarter of 2007.
In November 2005 the company signed an agreement with DONG Norge AS to acquire 30% in production licence 274, including the Oselvar discovery.
In January 2006 the company agreed with Det Norske Oljesellskap AS (DNO) to acquire 15% of the production licences 001B, 028B and 242, as well as a 10% of the licences 305, 305B, 332, 334 and 341.
All the transactions have been waiting for the pre-qualification of the company as licensee, before they now can be completed.
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