Project Profile
Location: North Sea, United Kingdom
Blocks: 3/2c, 4c, 7d, 9c, 13b, 14h, 14j, 16/12b, 17c, 211/22b, 27d, 28b & 29e
Area: 1,026 sq km
Relinquishment Date: 31 December 2014
Start-up Year: -
Trapoil has completed a farm-in agreement with Extract Petroleum for acreage in the UK North Sea. The 1026-square kilometre acreage was awarded to Trapoil in the 27th Seaward licensing round in October 2012 and comprises promote licence P1938, which covers 13 blocks. Under the agreement, Trapoil will become the operator of the blocks and farm-in for a 100% working interest while Extract will retain a 1% royalty interest over any future production from the acreage.
Trapoil’s obligations in the deal include funding and undertaking a preliminary evaluation of the potential for production from tight reservoirs in P1938. The assessment would be based on the acquisition of 2D and 3D seismic data. In the event of encouraging results, Trapoil planned to secure partners to further develop the licence with the ultimate objective of drilling one or more proof-of-concept wells.
Operators:
Trapoil (now Jersey Oil and Gas): Operator with 100% interest