SPIRIT WINS SIX NEW LICENCES IN THE UKCS
04 Sep 2020

Anne-Sophie Cyteval, UK Exploration Manager, said: “This is excellent news and a great achievement as there was a lot of competition this year for new acreage . We’ve been awarded six new licences – three in the southern North Sea and three in the central North Sea. This enables us to further diversify and strengthen our portfolio in focus areas.”

Spirit Energy picked up six licences in the 32nd round, which adds a total of eleven new blocks to the company’s UK North Sea portfolio. Due to the high competition, the area offered in some applications is smaller than the original application. Spirit was handed operatorship in three of the licences; Medusa, Bucephalus and Cavendish N extension, and partnership in the remaining three; Haw Moth, West Orchards and Cait.

We want to tap into these resources, and I believe North Sea exploration will be vital to our success as a company

Anne-Sophie said: “Geographically, Spirit Energy concentrates on North-West Europe. Recent discoveries made in the UK and Norwegian continental shelves have demonstrated that exploration potential still exists; around 40 billion barrels have been found, while around 30 billion are waiting to be discovered. We want to tap into these resources, and I believe North Sea exploration will be vital to our success as a company.

“We will now start further seismic studies of our new acreage and hopefully we can mature them into drill ready prospects relatively quickly.”

In the 32nd round the Oil and Gas Authority has offered for award 113 licence areas over 259 blocks or part-blocks to 65 companies.

The round, which provides exploration and field development opportunities in mature areas, was launched by the UK Oil and Gas Authority in June 2019 and included a total of 796 blocks or part-blocks across the main producing areas of the UKCS.