Lochard Subsidiary Enters Farm-Out Agreement with PGS
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.SubseaIQ provides focused, in-depth coverage of offshore field development activities around the world, with daily updates on hundreds of offshore fields and facilities. Click here to sign up for the free weekly email newsletter.