Lights Out for Front Exploration as DONG Takes Over

DONG Energy has gained access to seven oil and gas licences in Norway as part of the acquisition of company Front Exploration, a move which it says will help to strengthen its presence in Northern Norway. 

The acquisition bolsters DONG's portfolio in the region, adding to its own existing three licences in the Barents Sea.The company says that acquiring Front Exploration's licences will see it better able to develop its interests in Northern Norway, particularly in relation to the unproduced but prospective Lofoten and Vesterålen regions, for which DONG has acquired seismic data. 

"We have an ambition of growing our business," MD for Dong E&P Norge, Anders Mørland said. "This also goes for the Northern parts of Norway, where we are operator of licenses in the Barents Sea. The acquisition of the activities in Front Exploration will contribute to strengthening our position in Norway.

"Northern Norway is a very interesting and important area for us. The establishing in Tromsø supports us with an even stronger position within oil exploration in Norway, where we now have offices in both Stavanger and Tromsø."

Managing Director of Front Exploration, Yngve Vassmyr said that DONG was in a "unique" position after the sale.

"We are extremely pleased that DONG Energy wishes to establish itself in north Norway with the acquisition of our activities," he said. "It gives DONG Energy a unique opportunity to establish itself in North Norway."