Hansa Receives 2 Licenses in Danish North Sea

Hansa Hydrocarbons Limited announced Monday that it has provisionally been awarded licenses 7/16 and 14/16 in the Danish sector of the North Sea, as part of the Danish 7th Licensing Round.

Licence 7/16 covers an area of 306.4 km2 down to a depth limit of 1700m and is situated adjacent to the German median line to the south. The licence term is six years, with a drill or drop decision at the end of the third year, and the firm work program consists of reprocessing existing 3D seismic data. Partners on the license comprise Hansa (50 percent, operator), Edison International S.p.a. (30 percent) and Nordsøfonden (20 percent).

Licence 14/16 covers an area of 284.9 km2 and is located on the northernmost margin of the Southern Permian Basin, on the western limit of the Danish offshore. The license term is six years with a decision at the end of the second year to either acquire a new 3D seismic survey or to drill an exploration well. The firm work program of this license also includes the reprocessing of existing 3D seismic data. Partners on this license will be Hansa (32 percent), Edison International S.p.a. (48 percent, operator) and Nordsøfonden (20 percent). The awards remain subject to ratification by the Danish parliament.

John Martin, Hansa Hydrocarbon’s CEO, said in a company statement:

“At a time of a major industry downturn, these awards represent a great opportunity for Hansa to build out its exploration portfolio with high quality, high impact acreage in a new core area. We have recognized for some time that offshore Denmark is relatively lightly explored compared to other North Sea sectors, especially given the multiple play types present and the infrequent licensing rounds. The awards are the result of some considerable effort in regional work and once again demonstrate how a small technically focused company can be successful in leveraging knowledge across borders. Furthermore we are delighted to be partnering with Edison and Nordsøfonden for the first time and look forward to working together to mature the prospectivity on these high potential exploration licenses.“

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