LONDON (SHARECAST) - North Sea gas and oil explorer Trap Oil said it has been provisionally awarded three new traditional licences covering nine new North Sea exploration blocks.
Trap was given the provisional awards via the UK’s 27th licensing round and will be carried out through its partnership with Noreco, of which it owns 50%.
"We are delighted to have received these provisional awards under DECC's 27th Licensing Round, a testament to our knowledge and expertise in the UKCS," said Chief Executive Mark Groves Gidney.
"The attainment of operatorship is a key milestone in the company's development and positions us strongly," he added.
Amongst others, Noreco will operate on the flank of The Moray Firth, Witch Ground Graben, which lies in Trapoil's core exploration area immediately to the west of the Athena field and the Bordeaux and Brule discoveries.