The licenses are within the F-Quad and L-Quad areas and will see Sterling hold a 50% stake in the shallow geological horizons in blocks F14, F16, F17, F18 and L01b.
Stratic Energy, a wholly owned subsidiary of Enquest, will continue to hold a 10% interest, while Energie Beheer Nederland will hold the remaining 40%.
The five blocks cover 1550sq km and are located 80km offshore in a water depth of 45m.
The shallow horizons in these blocks contain four oil discoveries, with several wells, which tested oil with API gravities in excess of 30 degrees.
Sterling has acquired access to a recently re-processed regionally merged 3D seismic data set, which is significantly assisting the structural interpretation.
