Hansa Hydrocarbons Ltd. completed a farm-out with GDF SUEZ E&P Nederland B.V. (part of the ENGIE Group) in respect of a 30% interest in its 4Quads licenses (blocks G18, H16, M3 and N1) in the Dutch North Sea.
Pursuant to this transaction Hansa and GDF SUEZ E&P Nederland B.V. will each hold a 30% interest in the licenses and EBN, the Dutch state entity, the remaining 40% interest. Operatorship across the 4Quads licenses will be transferred from Hansa to GDF SUEZ upon approval by the parties of the drilling of the first exploration well. The transfer of operatorship will be subject to the approval by the Dutch authorities.
The 4Quads licenses are located in the Dutch North Sea adjacent to the German/Dutch median line with the mid-point 68km north of the mainland. Water depths range from 27-40m.
The primary exploration objective is the continuation of the basal Rotliegend play proven in the neighboring German H&L licenses where Hansa holds a 20% interest. A 965sq km 3D seismic survey was acquired in 2014 over the 4Quads licenses which should enable the direct mapping of reservoir sands across a mega closure which is the key driver of the prospectivity. With the processing of this survey now complete, interpretation is underway with the aim of maturing prospectivity by end 2015, after which drilling targets can then be established.