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Rocksource Awarded 5 New Licenses in the APA 2013 Licensing Round

Source: www.gulfoilandgas.com 1/21/2014, Location: Europe

Rocksource ASA is pleased to announce the award of five new licenses in the APA 2013 Licensing Round on the Norwegian Continental Shelf announced by the Ministry of Petroleum and Energy.

CEO Chris Spencer commented; “This is a great result for Rocksource. Once again the quality of our team is reflected in the awards.”

The awarded licenses are:

PL 746 S, Hernar
Rocksource was awarded operatorship and 40 per cent ownership in PL746 S located in the North Sea block 29/3. Phase one of the work programme consists of purchase of 3D seismic. Within one year a drill or drop decision has to be made. The license group consists of: Rocksource (operator, 40 per cent), Tullow (30 per cent) and Concedo (30 per cent).

PL 754, Aurora
Rocksource was awarded 40 per cent ownership in PL 754 located in the Haltenbanken area in block 6407/2. Phase one of the work programme consists of 3D seismic reprocessing. Within one year either new 3D seismic acquisition or drill or drop decision has to be made. The license group consists of: Rocksource (operator, 40 per cent), Faroe (30 per cent) and Centrica (30 per cent).

PL 756, Lannister
Rocksource was awarded 25 per cent ownership in PL 756 located in the Haltenbanken area in blocks 6507/7 and 6507/10. Phase one of the work programme consists of purchase of 3D seismic. Within two years a drill or drop decision has to be made. The license group consists of: PGNiG (operator, 50 per cent), Rocksource (25 per cent) and Idemitsu (25 per cent).

PL 763
Rocksource was awarded 30 per cent ownership in PL 763 located in the Norwegian Sea area in blocks 6606/2 and 6606/3. Phase one of the work programme consists of purchase and reprocessing of 3D seismic. Within two year a drill or drop decision has to be made. The license group consists of: Repsol (operator, 40 per cent), Rocksource (30 per cent) and Atlantic Petroleum (30 per cent).

PL 509 CS
Rocksource was awarded 10 per cent ownership in PL 509 CS located in the North Sea area in block 30/1. Work programme is the same as for PL 509 S.The license group consists of: North Energy (operator, 40 per cent), Fortis (50 per cent) and Rocksource (10 per cent).

These awards contribute medium and longer term opportunities to the Rocksource exploration portfolio.

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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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