North Sea Energy announced Friday that Maersk Oil has agreed to farm into the Bagpuss and Blofeld prospects in the UK North Sea.
The deal sees Maersk acquire a 25-percent working interest in blocks 13/24c and 13/25 which contain the prospects within UK offshore license P.1943. In return it will carry 100 percent of North Sea Energy's forward costs, drill the initial Bagpuss prospect exploration well and pay some costs already incurred by North Sea Energy.
The prospects are located on the Halibut Horst, which is described by North Sea Energy as a well-defined basement high within the Moray Firth in the North Sea.
"We are very excited to have successfully farmed-out the Bagpuss prospect to a world-class partner in Maersk Oil for the initial exploration and appraisal of the prospect," North Sea Energy CEO Craig Anderson.
North Sea Energy will retain a 15-percent working interest in blocks 13/24c and 13/25.
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