BGN enters into rig and operational support agreement with Statoil

BGN has entered into an agreement with Statoil regarding Operational Well Model to drill the Tethys Prospect in PL682 by utilizing the Songa Enabler Semisubmersible Drilling Unit.

PL 682 was awarded in 2013 and is situated in the Quadrant 35 area in the Norwegian North Sea. The license partners are: Bayerngas Norge AS(operator) 30 percent, Capricorn Norge AS (part of Cairn Energy PLC) 30 percent, Statoil Petroleum AS 20 percent and Petoro AS 20 percent.