Company Friedman had planned to buy more Norwegian assets

Oil and gas company DEA, controlled by the company LetterOne Mikhail Fridman is planning more deals in Norway. About it reports Reuters with a reference to the Manager of the Norwegian branch of the company Hans-Hermann, Andreae.

“We look at the withdrawal of the majors from the continental shelf more as an opportunity than a threat. So we see the open opportunities for us to inorganic growth,” said the Manager of DEA.

Andreae added that the company will begin to specialize in the projects that create the greatest value, as Skarv. Snorre, Njord, Zidane and partially Gjoea.

In 2016, the DEA intends to spend more than $100 million on exploration of the total capital investment of approximately $230 million.

In may, the company DEA Norge AS Friedman received from the Ministry of petroleum and energy of Norway licenses to develop fields on the shelf. In each of the two obtained the license, the company received 30%.

3 Feb other company Friedman DEA E&P Norge has also received licenses for development of five stations on the continental shelf of Norway.