Zennor Petroleum has completed the acquisition of interests in Petroleum Production License P359, in the UK North Sea, from Esso Exploration and Production UK.
These interests comprise a 40.0002% working interest in Block 23/16b Area A (Arran North) and a 66.667% working interest in Block 23/16a Area B (Arran South). The interests together comprise a 47.35664% unitized interest in the Arran discovery area.
The Arran discovery, in the East Central Graben, is an undeveloped gas condensate discovery, operated by Korean owned Dana Petroleum, which is currently working towards applying for field development consent.
Zennor managing director Martin Rowe: "We are looking forward to working with the Arran operator and joint venture partners to enable a timely sanction of the Arran Project.”
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