Offshore staff
ABERDEEN, UK – Shell UK has signed a sale and purchase agreement with Siccar Point Energy that will give Shell participating interests in three licenses in the Shetland area.
The company will gain 30% of P1028 and P1189, incorporating theCambo discovery, and 22.5% of P1830, which includes the Blackrock prospect, both 125 km (78 mi) northwest of the Shetland Islands.
A final appraisal well is due to be drilled this spring on Cambo, followed by an exploration well next year on Blackrock.
The transaction, which is subject to partner and regulatory consents, involves a cost-carry contribution on both wells and on any subsequently approved development of Cambo.
Completion of the transaction remains subject to customary regulatory and partner consents.
Jonathan Roger, CEO of Siccar Point, said “Shell brings a wealth of relevant expertise…”
03/29/2018
