RGT Applies for licenses in the NCS
Rocksource ASA has delivered applications for licenses for the Awards in Predefined Areas (APA/TFO) 2006 on the Norwegian Continental Shelf (NCS), thus completing two application rounds in 4 months. The company has applied for several blocks in the round which is expected to be competitive. The application is another milestone for the company, and is part of the strategy to build a portfolio of exploration licences. Rocksource has entered into partnerships with other oil companies for several of the applications. This further strengthens the company`s position and demonstrates the interest in Rocksource`s approach for handling EM data.
Gregor Maxwell, VP Exploration, believes that the NCS holds significant exploration opportunities which can be exploited by Rocksource`s EM technology. The NCS will form a core area for the company in the future. The company will immediately begin preparations for the 20th Round on NCS which is expected to be announced later this year.
Jonny Hesthammer, Chief Technology Officer, states that detailed EM feasibility and confidence modelling analyses have been carried out to ensure that the technology is suitable for the relevant prospects both in terms of detection and delineation. The delineation aspect is particularly important as it will aid the evaluation of the commerciality of the prospects and thus the decision making process. Rocksource`s proprietary system, Rocksource Discover, has been used for this purpose.
The awards for the APA/TFO round is expected to be announced around year end.
Oslo, 29 September 2006
Rocksource ASA
Trygve Pedersen - CEO
+47 900 97 741
Published: 26.10.2006
Contact Information
Address:
Thormøhlensgate 53 D
Postboks 994 Sentrum
N-5808 Bergen
Norway
| Phone: | +47 05369 |
| From abroad: | +47 21 49 32 69 |
| Fax: | +47 55 36 87 98 |
Per Anders Muri
VP Corporate Communications
Phone: +47 91 11 61 21
per.anders.muri@rocksource.com