Veritas DGC Inc, a provider of exploration technologies to the petroleum industry, has completed the farm-out of its Promote License for UKCS Central North Sea block 16/21d to Kerr-McGee for further exploration.
Block 16/21d is adjacent to the Balmoral and Dumbarton fields and near to the recent Brenda discovery. The block contains the presently abandoned Bladon oil field, and significant potential prospectivity has been identified using Veritas long-offset 3D seismic data.
Under the terms of the agreement, which remain confidential and are conditional upon certain events including governmental and regulatory approvals, Kerr-McGee will assume a 100% stake in the block, acquired by Veritas as a Promote License in the UKCS 21st Offshore Round.
Robert Hobbs, president of Veritas’ EAME Division in London, commented: This is an important step for Veritas, proving the concept of our Promote Round participation in the UK. Our seismic-based workflow has proved extremely popular with Kerr-McGee and many other companies, enabling us to identify entirely new prospects for future drilling.
Veritas retains 100% interest in eleven 21st and 22nd Round Promote Licenses covering 12 blocks in the UK Central North Sea.