Frigg is commercial
The Ministry of Industry declared officially that the operators regarded Frigg as commercially exploitable. It was regarded at the time as the largest offshore gas field to have been discovered worldwide.
Hydro was entitled to a double option under the revised Petronord agreement of 16 July 1965. The company announced on the same day Frigg was declared commercial that it intended to exercise this option, and thereby increased its share of production licences 023 to 026 from 13.6 per cent to 34.6 per cent.
The government also exercised its option in May 1973 to secure five per cent of Petronord.
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