Fairfield Adds Blocks in 2nd Tranche of Licensing Round
Fairfield has been awarded four blocks by Department of Energy and Climate Change (DECC) in the second tranche of the 26th Seaward Licensing Round, bringing its total award to six blocks.
In addition to receiving Blocks 48/11c and 48/12b in the first tranche of awards, Fairfield has now been awarded Blocks 48/8d, 48/9b and 48/14c in the Southern Gas Basin, immediately to the North of Centrica's Ensign Field. Fairfield will operate the license at 50 percent interest, with 50 percent partner Bayerngas Europe Limited.
In addition, Fairfield has been awarded a 50 percent interest in Block 48/20b along with partner and operator RWE (50 percent). Block 48/20b lies immediately to the southeast of the Clipper South Field, currently in development, where Fairfield has a 25 percent interest along with operator RWE (50 percent) and partner Bayerngas (25 percent). Subject to approvals, Fairfield will farm down a 25 percent working interest in Block 48/20b to Bayerngas to mirror the interests at Clipper South.
Fairfield's Chief Executive Officer, Chris Wright, commented, "These latest awards are pleasing and demonstrate the progress Fairfield is making in building a core area in the UK Southern Gas Basin using the knowledge we have gained through the development of the Clipper South Field. Block 48/20b secures acreage immediately to the southeast of our project at Clipper South and the award of blocks 48/8d, 48/9b and 48/14c further strengthens our exploration portfolio, close to existing infrastructure."
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