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GDF SUEZ Announces Success in 27th Licensing Round Awards

Source: www.gulfoilandgas.com 12/10/2013, Location: Europe

GDF SUEZ E&P UK Ltd is pleased to announce that it has been awarded five further licences in the Southern North Sea (SNS), three as operator, in the second tranche of the 27th offshore oil and gas licensing round announced by the Department of Energy and Climate Change.

The exploration licenses will provide future exploration targets that could supply gas to the market, notably through the Cygnus hub facilities that GDF SUEZ E&P UK is currently developing. With the aid of improved 3D seismic acquisition, further prospects could be identified that could extend the life of this mature basin.

Jean-Claude Perdigues, Managing Director, GDF SUEZ E&P UK commented: “These five licences enhance our position as a major player in the UK, particularly in the Southern North Sea. These new licences will extend our options for further SNS development including the exploration of interesting new plays in alternative areas of the basin. These new licences integrate perfectly with GDF SUEZ’s strategy for a strong commitment in the UKCS.”

This builds on the company’s growing North Sea portfolio, having already been awarded nine licenses, three as operator, in the initial tranche of the 27th licensing round last year. GDF SUEZ E&P UK is rapidly becoming one of the UK’s leading offshore exploration and production operators, especially with the Cygnus, Juliet and Orca developments in the SNS under construction with first gas from Juliet expected in the coming weeks. The company holds interests in more than 50 licences in the UKCS, 20 as operator across its three core regions of Central North Sea, Southern North Sea and the West of Shetland.

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


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