Genesis Petroleum Corporation Plc (Genesis Petroleum) has confirmed the award of Frontier license P1639 in relation the UK 25th Seaward licensing round. The license which comprises nine blocks and extends to 1,757 square kilometers has now been awarded to the company's subsidiary, Genesis Exploration & Production Ltd. (which will act as operator), on a 100% basis.
In Norway, all formalities have now been completed in respect of the NOCS blocks 6201/11 & 12. This award is adjacent to the P1639 UK acreage and contains an oil and gas discovery. The company and its partners have committed to drill a well within three years on this Norwegian license.
The company’s other provisional award in the UK 25th licensing round relating to UKCS block 9/9d has been incorporated into the existing adjacent UKCS 9/9e (P1410) license already held by Genesis Petroleum and Lundin.
As a result of these confirmed awards, Genesis now holds interests in six UK and six Norwegian licenses.
Details of confirmed awards are as follows:
License P1639 – blocks 210/3, 4, 5, 8, 9 and 10 219/29 and 30 220/26: Genesis Petroleum is the operator with 100% stake.
License P1410 – blocks 9/9e and 9/9d: Genesis Petroleum (40%), Lundin Petroleum AB (Lundin) (60%, operator).
License PL 519 – blocks 6201/11 and 12 20%: Lundin 40% (operator), Norwegian Energy Company ASA 20%, Spring Energy Norway AS 20%.
Commenting on the awards, Michael Haagaard, chief operating officer said: “I am very pleased with confirmation of these awards which give the Company its third operatorship in the UK and bring clarity to our 25th Round applications. The new operatorship together with the adjacent Norwegian licence is of significant strategic importance and will add new play concepts with significant potential to an already exciting project portfolio.”