Kistos overturns Dutch government decision on North Sea gas license
July 21, 2023
Kistos has won its appeal against the Netherlands Ministry of Economic Affairs’ decision not to extend the term of the company’s M10/M11 license in the North Sea.
Kistos operates E&P licenses in the Netherlands, with its main focus on the Q10-A producing asset in production licenses Q07/Q10a.
LONDON — Kistos has won its appeal against the Netherlands Ministry of Economic Affairs’ decision not to extend the term of the company’s M10/M11 license in the North Sea.
The ruling, which has already taken effect, extends the license by five years. Kistos NL1 B.V. has a 60% operated interest in partnership with state-owned EBN (40%).
The M10/M11 gas fields are on the northern part of the Dutch North Sea shelf, close to the environmentally sensitive Waddenzee area. Kistos sought the extension to drill an appraisal well to support a potential fast-track gas development through existing export infrastructure.
It estimates technically recoverable 2C resources net to its interest at 174 Bcf, based on a third-party report compiled in accordance with the Petroleum Resources Management System (PRMS) standards for classification and reporting.
Kistos said it would now apply for a permit for the appraisal well, holding talks with local municipalities and stakeholders before starting any assessment phase planning.
