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Azinor Catalyst Offers Two Licences in UKCS 29th Licensing Round

Source: www.gulfoilandgas.com 3/24/2017, Location: Europe

Azinor Catalyst (Catalyst), the Seacrest Capital Group-backed E&P company focused on the United Kingdom Continental Shelf (UKCS), has been awarded two operated licences, comprising 10 blocks, on the UK Continental Shelf as part of the UK’s 29th licencing round.

- Blocks 14/8, 9, 10 & 14/13,14, 15 (Split)*: Azinor Catalyst 100% (Operator).
- Block 14/13, 14, 15 (Split)*: Azinor Catalyst 80% (Operator) & Dyas UK 20%.

* (Split): Blocks split as a way of dealing with the differing prospectivity focus of competing Applications.

These licences have been awarded on a drill-or-drop basis and are located in the Outer Moray Firth, Central North Sea. The blocks are contiguous acreage to Azinor Catalyst’s P1989 Licence (Blocks 14/11, 12 & 16) which cover the Partridge prospect, which the company plans to drill in 2017.

Henry Morris, Technical Director of Azinor Catalyst, commented:

“We are very pleased to have been awarded ten highly prospective blocks in the latest UKCS licencing round. Most importantly, we have been awarded the blocks which cover the wider Partridge play, known as ‘the Birds’. This further cements our position over some of the most exciting Lower Cretaceous prospects in the region. This area has significant underexplored potential, it is astounding that an area in such close proximity to a 600mmbbl field (the Claymore field) has only just had 3D seismic coverage.

The use of latest generation 3D seismic and cutting edge geophysical technology has underpinned the team’s ability to unravel the geological story and capture this highly attractive exploration area. It’s exciting times, as we progress towards drilling the Partridge prospect this summer, where we hope to unlock the wider potential in the play.

We are also extremely pleased about the award of acreage covering a large Jurassic structure, until recently only covered by 2D data. The new 3D seismic has confirmed the prospect and will allow us to de-risk it moving forward, maturing it to drill ready status.”

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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 


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