Aladdin Oil & Gas Company ASA’ daughter company OOO Geotechnologia has been granted a 20 years production license for gas field #2 on MS license. The field was discovered in 2009 by drilling of the well 6VKD in spring 2009. The field is located around 20km south of gas field #1.

The Chairman comments:

“To be granted this 20 years production license for the second area of the MS block in Ukhta is an important step in developing the Company and reducing risk by converting exploration licenses to 20 years production licenses. This process proves the Company has the skills to go all the way from exploration to development phase.” 

Aladdin Oil & Gas Company ASA is a Norwegian based exploration and production company, head quartered in Oslo, with its shares traded on the OTC list under the ticker code AOGC. The company owns the Russian oil company OOO Geotechnologia which holds 4 licenses in the Timan-Pechora province in Northwest Russia, as well as 5 licenses through our company OOO Veselovskoye in the Orenburg area.