GUILDFORD, UK – Zennor North Sea has completed the acquisition of interests in UK production license P359 from Esso Exploration and Production (UK), containing the Arran gas/condensate discovery.
The transaction covers 40.0002% of block 23/16b Area A (Arran North), and 66.667% of block 23/16a Area B (Arran South), in the East Central Graben.
Together they comprise a 47.35664% unitized interest in the unit area covering the discovery, which will likely be delineated as theArran field.
Arran’s operator, Dana Petroleum (E&P), is in the process of applying for consent for a field development.
Zennor’s strategy is to build a diversified UK portfolio with eventual net production of more than 10,000 boe/d from resources of over 100 MMboe.