North Sea Liberator farm-in talks progressing
i3 Energy is in discussions concerning a potential farm-in to its Liberator field development in the UK central North Sea.
The company has a 100% interest in blocks 13/23(d) and 13/23(c), covering the entire Liberator trend with associated prospective resources totaling 80 MMbbl.
If the contractual negotiations are successful, i3 would be fully funded for both the Liberator field development and the appraisal of Liberator West.
The company and the potential partner would form a joint venture to speed up work on the project and submit an expanded Phase I development plan to the Oil & Gas Authority.
In the meantime, the parties would continue to source long lead and other items and services to achieve first oil production as soon as possible.