Centrica welcomes further Norwegian licence awards

Centrica plc today welcomed the announcement by the Norwegian Petroleum Ministry, which has awarded the company participation in six licences as part of its bid in the 2007 APA exploration licence round.  The licences, which are named after rock stars and film characters in line with Centrica's existing Norwegian licences, are located in the Norwegian Sea and in the North Sea. 

Centrica will have an operated interest in five licences, including the Manilow and Whitesnake prospects, with partners including BayernGas, Faroe Petroleum and Petro-Canada.  The award will build on Centrica's position in Norway, which is one of its key near term prospects for increasing its gas reserve position.  

The company already holds seven licences in Norway and has a full development team in place to progress a future work programme, including drilling its first licence in late 2009.  Centrica is part of a rig consortium to provide 150 days drilling time over a three year period. 

Sam Laidlaw, Chief Executive of Centrica, said: "Norway is one of our key countries as we further broaden our search to secure future supplies for our British Gas customers.

"These new licence awards will build on our existing position in Norway and enable us to plan for our future work programme, with first drilling expected on our existing licences in 2009."

Licences awarded to Centrica:

1/ PL 405 B (Operator) - North Sea - Bank Prospect - Partners: Faroe Petroleum and Petro-Canada

2/ PL 452 (Operator) - North Sea - Etta Prospect - Partners: Faroe Petroleum and Petro-Canada

3/ PL 470 (Operator) - Halten Terrace - Caerus Prospect - Partners: BayernGas

4/ PL 475 (Partner) - Halten Terrace - Santana, Carlos, Rodriguez Prospects - Partners: Revus Energy (Operator), Faroe Petroleum, and Concedo

5/ PL 477 (Operator) - Halten Terrace - Cooper and Foreigner Prospects - Partners: Faroe Petroleum and Petro-Canada

6/ PL 478 (Operator) - Halten Terrace - Manilow and Whitesnake Prospects - Partners: Faroe Petroleum and Petro-Canada