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