Hartshead Resources received oil and gas licenses from the North Sea Transition Authority (NSTA) during the UK NL33rd licensing round.
Letters of offer and license documentation from the NSTA cover six new oil and gas licenses over 10 offshore blocks. Five licenses consist of nine blocks in Southern gas basin and two licenses consist of 3 blocks adjacent to the existing P2607 license.
Three licenses (P2669, P2670, P2678) have been fully executed and formally awarded to Hartshead and three licenses (P2676, P2679, P2682) are awaiting execution by the NSTA.
These licenses all contain either gas field redevelopments or undeveloped gas fields and present a range of redevelopment, development, and appraisal opportunities, the company said. In aggregate, the licenses will add 627 bcf 2C contingent resources and 560 bcf 2U prospective resources net to Hartshead, the company continued.
Hartshead will hold 50-100% equity in the six licenses.
