Acona to Assist Spring Energy in Emergency Preparedness

Spring Energy announced yesterday that a framework contract has been signed with Acona, whereas Acona will become our emergency preparedness services provider who can assist in:

· Preparation of emergency preparedness set up for drilling operations on the Norwegian continental shelf where Spring Energy is the operator.

· 2nd line operational emergency response.

· Emergency response training.

· Preparation of emergency preparedness set up for onshore incidents/accidents on behalf of Spring Energy.

The contract has three year duration with extension options for two times two years.

Spring Energy is a privately owned Norwegian oil and gas exploration, development and production company focused on the mature and immature areas of the Norwegian Continental Shelf. The Company’s headquarters are in Oslo where it has a team of 33 highly experienced management and staff. The team has both high level technical and commercial competence and an excellent network of industry contacts which combine to give it a commercial edge. Since its startup in 2008, the Company has already enjoyed considerable success. Through a combination of successful applications for acreage in NCS licensing rounds, acquisitions, exploration, swapping of assets and active management of the asset portfolio, Spring Energy has established a well balanced combination of quality exploration, appraisal and production assets. Following the APA 2011 award announced on 17 January 2012, Spring Energy now holds a total of 32 licenses on the NCS, 3 as operator. With a consistent and focused strategy, the Company is rapidly growing towards its vision of becoming a highly profitable, fully integrated exploration, development and production company. The Company is backed by HitecVision, a private equity company with a track record of making sound strategic investments in the Norwegian oil and gas sector.

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Offshore Nieuws Staff , January 25, 2012;  Image: Spring Energy