2010-01-27-2009-12-22-2009-12-22

Acquired 70% WI in Norwegian Production License PL431 in the Norwegian Sea.

Maersk Oil reports that the acquisition agreement covering the Norwegian Production License PL431 has been completed with Faroe Petroleum. Maersk Oil has acquired 70% interest and assumed operatorship. Maersk Oil has committed to drilling a well in 2011 targeting the T-Rex prospect, south east of the Smørbukk producing field in the Norwegian Sea. "We see significant potential in this license," says Åke Hesselbom, Managing Director of Maersk Oil Norway " though, as always there are risks. With our strong technical skills and pioneer mindset we have a proven track record of turning opportunities into reality. That is our ambition with the T-Rex prospect as well."