Finder Energy has received offer letters from the North Sea Transition Authority (NSTA) notifying that it has been successful in winning two licences in the final tranche of awards in the 33rd UK Offshore Licensing Round.
The first licence is located in the Ettrick Sub-basin between Finder’s P2528 and P2527 licences and is adjacent to the giant Buzzard and Golden Eagle oil fields. The Big Buzz 3D seismic data that Finder recently reprocessed covers the licence and will be used to high-grade the prospectivity. The Ettrick and Blackbird depleted oil fields, which produced nearly 35 million barrels are also located within the licence. Finder bid for this licence in partnership with Dana Petroleum, building on our existing partnership across three other Central North Sea licences. Finder will be the Licence Administrator (Operator) with a 60% interest in the licence.
The second licence is located to the north on the South Halibut Shelf and Finder will hold a 100% interest. The work program includes high-end seismic reprocessing, similar to the recent Big Buzz 3D reprocessing project. A number of Upper Jurassic prospects, similar in age to the nearby oil fields have been identified and will be derisked by the reprocessing project.
Acceptance of the awards and finalisation of regulatory and joint venture arrangements will occur in the coming weeks.
Finder will announce further details in relation to the prospectivity within these licences, planned activities and strategy in due course.
Source: Finder Energy
