ARCO British Ltd. has won exploration licenses for two sought-after blocks in U.K.'s West of Shetland area after a bidding battle.
Their desirability stems from an announcement by BP Exploration Operating Co. Ltd. of a discovery, named Suilven, on adjacent Block 204/19, that reportedly involves a potentially commercial volume of hydrocarbons.
Following the strike, BP applied to U.K. Department of Trade and Industry (DTI) to have Blocks 204/14 and 204/15 designated for licensing out of round (OGJ, Mar. 10, 1997, p. 31).
Suilven discovery is thought to extend north into Block 204/14, and this block and adjacent 204/15 are thought to contain a number of prospects. Howeve...