Norwegian exploration company Rocksource is to farm out 10% of its Norwegian licence to Explora after drilling a dry well on the field.
The site, to the east of the Norne, Urd and Linerle fields, was drilled in 2011 but failed to yield results.
Now Explorer has bought a 10% stake in Rocksource’s 60% share of the licence, with an option to take a further 30% ahead of a decision to drilling a new prospect.
The terms of the deal, which would bring them in with existing stakeholders VNG, Skagen44 and Atlantic, were not disclosed, and remain subject to approval from authorities.
