Norwegian firms Noreco and North Energy are to swap assets on the Norwegian continental shelf, the two companies said on Thursday. Noreco will transfer a 15% stake in the PL484 licence, containing the Verdande prospect, in the Norwegian Sea to North Energy, reducing its interest from 30% to 15%. After the transaction, Explora Petroleum will hold 30%, Dana Petroleum 30%, Noreco 15%, North Energy 15%, and E.ON 10%.
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