By OGJ editors
HOUSTON, Sept. 11 -- A joint venture led by RWE Dea UK Ltd. was awarded Block 42/27 in 55 m of water during the 20th round of offshore licensing in the UK North Sea. RWE Dea UK is a 100% subsidiary of RWE Dea AG, Germany.
RWE Dea UK, with 55% interest, will act as operator on behalf of joint venture partners Consort Caister Ltd., with 35% interest, and Egdon Resources (UK) Ltd., London, with 10% interest.
Initial plans call for conducting a 3D seismic survey during the license's first 2 years. Pending confirmation of economic potential, an exploratory well probably will be scheduled in 3-4 years. The UK government offered 300 blocks in its 20th licensing round (OGJ Online, Jan. 16, 2002).