North Sea producer Atlantic Petroleum is making a move into the Barents Sea after striking a deal with Det norske oljeselskap.
The newly listed firm has struck a deal to take a 10% stake in Det norske’s Langlitinden prospect in the Barents Sea, ahead of drilling starting next month.
The deal will see Atlantic carrying a share of the exploration costs.
“The well is a milestone for Atlantic Petroleum, as it will be the first well that the company drills on the Norwegian Shelf,” said chief executive Ben Arabo.
“The Langlitinden will also be the first well in the 2014 programme followed by the UK Pegasus appraisal well planned for March 2014.”
The field, regarded as low-risk, will be drilled by the Transocean Barents in January over a 51 day period.
Det norske operates the site, with Atlantic joining partners Petoro, Lundin, Tullow, Ithaca and Rocksource.
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