OGA approves North Sea license hand back

Jan. 4, 2021
Britain’s Oil and Gas Authority has accepted i3 Energy’s request to relinquish license P.1987 in the UK central North Sea.

Offshore staff

LONDON – Britain’s Oil and Gas Authority has accepted i3 Energy’s request to relinquish license P.1987 in the UK central North Sea.

The company decided not to seek an extension to a third term, which would have entailed securing approval for a field development plan.

License P.1987, which covers block 13/23d, contains contingent but not viable resources according to i3’s current estimates, although the company may re-apply for the concession in the future if warranted by appraisal results on nearby prospects.

The relinquishment has no impact on license P.2358, which began its four-year second term last September and which includes the Serenity oil discovery and the prospective Liberator West/Minos High areas.

01/04/2021