Fairfield Strengthens North Sea Portfolio with Multiple Block Acquisitions
Fairfield Energy has been fully successful in all of its applications in the UK 25th Licencing Round.
The awards, to Fairfield Cedrus Limited, a subsidiary of Fairfield Energy, were announced by DECC on November 12th.
Mark McAllister, CEO of Fairfield, commented, "We are delighted with our success in the 25th Round. Our applications were based on thorough technical analysis, drawing on our deep knowledge and expertise in the UK North Sea.
"The award of Block 211/24c, to the east of our operated Dunlin Area, continues our growth in this key area. Block 211/27e, to the south, further expands our presence in this region and future development of this block will utilize our Dunlin facilities.
"Finally, Block 3/8d contains the under-developed Staffa Field which was abandoned after production of only a small percentage of the oil-in-place. As such it has tremendous proved potential which plays to Fairfield's strengths in re-developing and rejuvenating fields in the UK.
"These awards add to our substantial portfolio of operated assets and we are looking forward to moving ahead quickly with our appraisal and development plans for all three areas."
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