As previously announced on 31 March 2006, Granby and TGS-NOPEC farmed out Block 42/28c to Centrica Resources Limited ('Centrica') and Gas Plus Italiana SpA ('Gas Plus'). Centrica will be the operator of an exploration well on the Watling prospect. The well will be drilled to a depth of approximately three thousand one hundred meters (3,100m) true vertical depth. Drilling operations are expected to begin in late November or early December 2006. Granby's share of costs (including for this acquired interest) will be carried by Centrica and Gas Plus.
Block 42/28c was awarded as a promote license to Granby and TGS-NOPEC in the 23rd License Round in September 2005. The Watling prospect was identified in a study undertaken by Granby of open acreage in the southern gas basin of the North Sea. The block is located some 35 kilometers east of Flamborough Head in a water depth of approximately 55 meters.
The assignment of TGS-NOPEC's interest to Granby is subject to the consent of the Secretary of State for Trade & Industry.
David Grassick, Managing Director of Granby Oil and Gas, said:
"We are delighted to increase our carried interest in the Watling prospect where drilling operations will begin shortly."
Most Popular Articles
From the Career Center
Jobs that may interest you