RockRose buying stake in North Sea Arran project

RockRose Energy plc has agreed to acquire a 20.43% interest from Dana Petroleum (E&P) in blocks 23/11a, 23/16b, and 23/16c in the UK central North Sea.

Offshore staff

LONDONRockRose Energy plc has agreed to acquire a 20.43% interest from Dana Petroleum (E&P) in blocks 23/11a, 23/16b, and 23/16c in the UK central North Sea, containing the undeveloped Arran field.

The company plans to fund its share of the planned development project through its existing cashflow.

Other partners in Arran are Shell UK andZennor North Sea. RockRose anticipates a subsea tieback of the field to Shell’s Shearwater platform: the field development plan will be filed with the UK’s Oil and Gas Authority (OGA) by the end of September.

Completion of the transaction remains subject to OGA and other partner consents.

08/09/2018

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