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  <h1>Licence interest sold</h1> 
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    <div class="date-module"> <span class="date_module-icon fa fa-calendar"></span> <span>August 3, 2005, 01:20 CEST</span> 
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     <p>An agreement to sell a 20 per cent holding in production licence 251 in the Møre Basin area of the Norwegian Sea has been concluded by Statoil with UK-owned gas company BG Norge.</p> 
     <p>The farm-out will leave the group with 70 per cent of the deepwater licence. Shell is the third licensee, holding 10 per cent.</p> 
     <p>“We’re currently drilling a wildcat in the Tulipan prospect in PL 251 with <em>Eirik Raude</em>,” reports project manager Thomas Ladsten in Exploration &amp; Production Norway.</p> 
     <p>“The results of this exploration well are due to be available during the autumn.”</p> 
     <p>Located in block 6302/6, the well is being drilled in 1,260 metres of water a little to the west of the Ormen Lange gas field currently being developed by Norsk Hydro.</p> 
     <p>The PL 251 farm-out has been made to adjust Statoil’s exploration portfolio. Bringing in more partners spreads the risk and reduces the group’s exposure.</p> 
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