United Oil & Fuel Plc has accepted a proper supply from the Oil and Fuel Authority of a 100% curiosity in Blocks 14/15c, 15/11c, 15/12a, and 15/13c (Licence P2480), with the licence time period starting 15 July 2019.
The 4 extremely potential blocks within the Central North Sea cowl an space of roughly 500 km2, and embrace the Zeta prospect, which United estimates might include over 90 million bbl of in-place oil. The Blocks, which lie 10 km from United’s Crown Discovery, are near the Marigold and Yeoman discoveries and the substantial Piper, MacCulloch and Claymore oil fields.
The Blocks have been awarded on the premise of a low-cost work programme involving the acquisition of an present high-quality 3D seismic dataset and detailed geological and geophysical evaluation. This evaluation is deliberate to raised quantify the possibility of success and scale back the uncertainty on the estimated oil volumes, forward of creating a drilling dedication.
United Oil & Fuel Plc COO, Jonathan Leather-based, mentioned, “We’re delighted with these awards, which, based mostly on in depth…