Noble commissions Rhone Maritime 2D survey

Melrose and Noble Energie France have signed a fully termed farm-in agreement concerning the deepwater Rhone Maritime concession offshore southern France.

Offshore staff

EDINBURGH, UK -- Melrose and Noble Energie France have signed a fully termed farm-in agreement concerning the deepwater Rhone Maritime concession offshore southern France.

In July, Melrose entered into a heads of agreement, under which Noble Energy would take a 72.5% operated interest in the permit, with Melrose retaining a 27.5% interest.

The transaction will be completed once regulatory approvals come through.

The partners have contracted a seismic vessel to acquire an 8,000-km (4,971-mi) 2-D seismic survey over the entire concession area, starting mid-November. This should take around three months to complete.

Melrose says the acreage has both pre-Messinian and post-Messinian hydrocarbon potential. Noble will cover the cost of the survey under the farm-in terms.

11/04/2010

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