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Maersk farms into prospective North Sea Isabella acreage

Offshore staff

WOKING, UK – Valiant Causeway has agreed to a farm-out agreement with Maersk Oil on the Isabella prospect in the UK central North Sea. The structure extends over blocks 30/6b, 30/11a, and 30/12d in license P1820.

Isabella is a gas/condensate prospect on what Valiant claims is one of the largest undrilled fault blocks in the sector with prospectivity across multiple geological horizons.

Valiant’s well costs will be part-carried by Maersk subject to a cap on the promoted costs. In addition, Maersk will refund to Valiant certain historic costs associated with the license.

Subject to UK government approval, the P1820 partners will comprise operator Apache North Sea (50%), Maersk Oil North Sea (30%), and Valiant Causeway (20%).

3/14/2013

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