United confirms North Sea block awards

Sept. 10, 2019

Offshore staff

DUBLIN, IrelandUnited Oil & Gas has accepted the award of four blocks in the UK central North Sea, offered in June by Britain’s Oil and Gas Authority under the 31st Licensing Round.

Blocks 14/15c, 15/11c, 15/12a, and 15/13c (license P2480) cover an area of around 500 sq km (193 sq mi) and include the Zeta prospect, which could contain more than 90 MMbbl of oil.

All the blocks are 10 km (6.2 mi) from United’s Crown discovery, and close to the Marigold and Yeoman finds and the Piper, MacCulloch and Claymore oil fields.

United has agreed to undertake a low-cost work program involving the purchase of an existing 3D seismic dataset, and geological/geophysical analysis.

The main aims will be to better assess prospectivity and reduce oil volume uncertainty, ahead of a drilling commitment.

In the same round, United provisionally secured a 10% interest in blocks 98/11b and 98/12 in the English Channel, both contiguous to the company’s Colter P1918 license, and which contain the Ballard Point discovery and the eastern portion of the Colter South discovery.

United expects to receive confirmation of the award in the coming weeks.