PA Resources Receives Provisional Licence Award in UK 28th Round

Source: www.gulfoilandgas.com 11/13/2014, Location: Europe

PA Resources has been successful in the UK’s 28th Seaward Licensing Round and has been provisionally awarded Blocks 22/18c and 22/19d as part of a group comprising of PA Resources (25 percent), E.On (40 percent), Cairn Energy’s wholly-owned subsidiary Nautical Petroleum (25 percent) and First Oil and Gas (10 percent). The awarded blocks lie adjacent to PA Resources’ Block 22/19a which contains an undeveloped gas and condensate discovery. Whilst PA Resources operated the UK 28th Round licence evaluation and application, E.On will assume operatorship on award. Blocks 22/18c and 22/19d contain the large Ekland prospect on which the group has bid a firm exploration well in the initial four year licence term.


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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  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


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