Lochard Energy Group announced that its 100%-owned subsidiary, Zeus Petroleum Limited has signed a farm-out contract with Petroleum Geo-Services to assign a 40% stake in six North Sea Blocks 16/8c, 3/5, 3/10c, 9/17b, 9/22b and 14/17.
In return for the exchange, the company will have access to 3D seismic data and associated seismic evaluation and engineering expertise over these blocks. The agreement is subject to certain conditions and UK governmental approval.
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