One month after M Vest received its approval as a license holder on the Norwegian Continental Shelf, the company has been awarded with its first license.
«This is very delightful, and it is an evidence that we are considered fully professionally and financially suitable to participate in new licenses», says COO in M Vest Energy, Aris Stefatos.
«This was the only license we applied for, so the value in this regard is full score», Stefatos says. He emphasized that the license is located in an area (The Norwegian Sea) where M Vest Energy is particularly familiar with through several projects.
Together with Statoil (50 percent) and Spanish Repsol (30 percent), M Vest Energy (20 %) was given an aggregate on its application for extracting permission for PL 897, located in the Norwegian sea, west of the county Nordland.