Det norske fights Oslo’s Johan Sverdrup carve-up

Oslo: Norwegian oil company Det norske oljeselskap has decided to fight Oslo’s split up of the huge Johan Sverdrup oilfield. Det norkse has been given just 11.57% of the field, Europe’s largest offshore project with up to 3bn barrels of oil equivalent.

“For Det norske, it is a decisive principle that the ownership interests in Johan Sverdrup are to be distributed according to a combination of volume and value. We do not see this principle reflected in the Ministry of Petroleum & Energy decision on the unitisation split,” Karl Johnny Hersvik, the firm’s ceo, said in a statement.

Other owners in the field, due to open at the end of the decade, are Lundin Petroleum, Maersk and state holding firm Petoro.

Det norske has not ruled out taking legal action to get its stake hiked.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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