Saga Petroleum Danmark AS

Hydro is taking an active part in exploration activities for oil and gas on the Danish continental shelf, through the company Saga Petroleum Denmark.

Following the merger with Saga Petroleum in 1999/2000, Hydro took over licences 4/98 and 5/98.

Through Saga Petroleum Denmark, Hydro has a share of 30 per cent in 4/98 and 25 per cent in 5/98, with ConocoPhillips as operator. Licence 5/98 includes the Hejre field, where oil was found, along with associated gas, in 2001.

In 2005, a successful appraisal drilling operation was carried out, and the field is currently being considered for possible development and production. In licence 4/98, a new exploration well will be drilled in the autumn of 2006 on the so-called Stork prospect.

In the spring of 2006 the company's activities were strengthened significantly when Saga Petroleum Denmark was awarded shares in four licences during the 6th licensing round on the Danish continental shelf:

Licence 1/06 is an additional area to 5/98, Hejre. In licences 4/06, 5/06 and 6/06, Hydro has a 30 per cent share, with Wintershall as operator. In these areas, extensive seismic operations and exploration drilling are planned for the years ahead.