New licence to DNO

Det Norske Oljeselskap AS, a wholly-owned subsidiary of DNO ASA, has taken over BP`s 20 % interest in PL 167. The transfer has now been approved by Norwegian authorities.
Statoil ASA is operator of, and holds a 80 %  interest in  PL 167. The licence includes an exploration prospect of lower Tertiary age. The prospect has a potential of over 200 million barrels of recoverable oil equivalent. A well is planned to be drilled in the prospect in 2003.