Hydro raises stake in Spectraseis

Norwegian oil and energy group Norsk Hydro has increased its shareholding in Spectraseis through the early exercise of investment options. The transaction increases the group’s ownership to approximately 22% of the company’s ordinary share capital. The stake is held by Hydro Technology Ventures AS (HTV), a unit formed to invest in promising new technologies with the potential to transform exploration and production industry performance.
 
Note: Effective from 1 October 2007, HTV will be part of StatoilHydro ASA, a new group formed by the merger of Statoil and the oil and gas businesses of Norsk Hydro.