Hansa Hydrocarbons Limited has entered into an agreement with Dana Petroleum Limited to acquire a 15 percent interest in licenses P.1566 (Blocks 47/4d, 47/5d) and P. 1742 (Blocks 47/10c, 48/6c) in the UK northern sector of the North Sea.
Hansa will hold a 15 percent interest and Dana will retain a 35 percent interest and operatorship of both licenses, upon completion of the farm-in agreement, which is subject to regulatory approval.
License P.1566 contains the Pharos prospect which is scheduled for exploratory drilling later this year.
Pharos, considered a robust structure, was recently confirmed through reprocessing of 3D seismic data to be a significant gas accumulation in the Leman sandstones. The consortium plans to drill well 47/5d later this year by the jackup Noble Lynda Bossler (250' ILC) in a water depth of 125 feet. Pharos is a large closure with a vertical relief of up to 600 feet, and an areal extent of up to 6,000 acres.
Data from this well-program is key in providing a better understanding of the remaining prospectivity in the area, reported Hansa in a press release, and will also provide more information on the Blakadder prospect that lies to the south in the adjacent license P.1742.
A discovery here could be jointly developed with Platypus, 8.7 miles to the northeast, stated the operator.
“I am delighted to have reached agreement with Dana to participate in the Pharos well, one of the largest undrilled Leman structures remaining in the UK gas basin," stated John Martin, Hansa Hydrocarbon's CEO, in the press release. "Participation in a near term high impact well, combined with a large acreage position which could deliver further attractive drilling targets, fits with the company’s long term growth objectives of delivering a congruent and well balanced portfolio across our area of focus. With first production from the Juliet field later this year becoming available for reinvestment, we are in a strong position to continue to build out our business with further development, appraisal and exploration opportunities.”
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