Gulf Oil and Gas accountACCOUNT

Chrysaor Signs East Solan Basin Farm-Out with RWE

Source: www.gulfoilandgas.com 12/4/2013, Location: Europe

Chrysaor CNS Limited (“Chrysaor” or the “Company”), a subsidiary of Chrysaor Holdings Limited, an independent exploration and production company focused on developing and commercialising oil and gas discoveries in the UK North Sea and Ireland, is pleased to announce it has signed a farm-out agreement with RWE Dea UK SNS Limited (“RWE Dea”).

Pursuant to the farm-out agreement, RWE Dea will acquire a 25% interest in Chrysaor’s United Kingdom Continental Shelf Petroleum Production Licences P.2074 (Blocks 205/26c and 205/27) and P.1932 (Blocks 202/4, 202/5 and 203/1a), West of Shetlands. Chrysaor will retain a 75% interest and Operatorship of the licenses which were awarded in the 27th Licensing Round. The farm-out agreement is subject to government approval.

Chrysaor and RWE Dea have, subject to the necessary regulatory consents, agreed to drill a 2015 exploration well on the Mustard Prospect in Block 205/27. Mustard is an Upper Jurassic submarine fan prospect at a depth around 8,000ft on the north-eastern side of the East Solan Basin in water depth of approximately 150m. Mustard is located some 15km from the Solan Field facilities, which have been designed to enable tieback of future area discoveries.

Commenting, Phil Kirk Chrysaor CEO, said:
“We are very pleased to welcome RWE as a partner to our exciting West of Shetlands acreage. We look forward to working together with them, to prove the significant potential that exists within the East and South Solan Basins. The West of Shetlands is a core area for Chrysaor and the licenses we acquired in the 27th Round are a key part of our strategy to build a hub area around the Solan facilities.

2014 will be a milestone year for Chrysaor as we see our first operated UK production from the Solan field and drill the Spanish Point appraisal well in Ireland.”

Acquisitions and Divestitures News in United Kingdom >>

Argentina >>  11/13/2019 - Echo Energy, the Latin American-focused upstream oil and gas company, is pleased to announce that the acquisition by the Company of a 70 per cent. ini...
Norway >>  11/13/2019 - OKEA ASA (the Company) announces that the sale of 20% of the Company's participating interest in Grevling (PL 038D) and 18.57% of the Company’s partic...

Trinidad and Tobago >>  11/12/2019 - Columbus is pleased to announce the extension of the Inniss Trinity Incremental Production Service Contract (Inniss Trinity IPSC) to allow for the imp...
Somalia >>  11/11/2019 - Genel Energy plc has increased its stake in the SL10B13 block, onshore Somaliland, to 100%, having acquired East Africa Resource Group's 25% stake. ...

Nigeria >>  11/8/2019 - Savannah Petroleum PLC, the British independent oil & gas company focused around activities in Niger and Nigeria, is pleased to provide an update in r...
United States >>  11/7/2019 - Diversified Gas & Oil PLC (DGOC) is pleased to announce the sale of its non-producing assets recently acquired in Monroe County, Ohio for total cash c...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Insurance  Investment  Mergers and Acquisitions  Risk Management 


United Kingdom Oil & Gas 1 >>  2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | 32 | 33 |

More News

Related Links

Gulf Oil and Gas
Copyright © 2019 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.