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.
