Australian Oil Firm Expands North Sea Acreage

May 21, 2021
Credit: Finder Energy

Credit: Finder Energy

Australian oil and gas company Finder Energy said Friday it had acquired two "highly prospective" UK North Sea-operated licenses, P2502, and P2524, from Azinor Catalyst Limited.

Perth-based firm said that the license P2502 was located on the western edge of the East Shetland Basin, Northern North Sea, covering an area of 424 square kilometers. The block sits 85 km NE of the Shetland Islands. 

"The licence holds significant potential in the Upper Jurassic turbidite play with over 1.2 billion barrel oil equivalent identified across eleven mapped leads. Finder currently holds an operated 100% working interest in this licence," Finder said.

The other block, P2524, is located on the southern flank of the South Viking Graben, Central North Sea, and covers an area of 171 square kilometers and is 250 km NE of Aberdeen. 

"The leading prospect on the licence is Barracuda, targeting the same Upper Jurassic reservoir that hosts the nearby prolific T-Block and Brae complex oil fields. In addition to the Barracuda prospect, the licence contains a further three prospects and leads and two small oil and condensate discoveries. Finder currently holds an operated 40% working interest in this licence, with Harbour Energy holding the remaining 60% working interest," Finder added.

Damon Neaves, CEO of Finder said: "These two acquisitions build on Finder’s recently announced entry into the North Sea through the 32nd UK Offshore Licensing Round and are in line with our strategy to secure high-quality exploration acreage close to discoveries and infrastructure. We expect to announce further North Sea acquisitions as well as new partnerships in the near future. 

"We are also pleased to announce that Nick Terrell and Henry Morris, former Azinor co-founders, and directors, will be joining the Finder team to drive our UK North Sea growth strategy."

No comments

More Popular Posts

About Crude Oil Facilitators

Crude Oil Facilitators are dedicated global brokers and facilitators of crude oil buying and selling. We work directly with crude oil buyers and crude oil sellers worldwide. We are a United Kingdom and Nigerian based firm, privately owned and devoted to the brokering of crude oil and other petroleum products buying and selling.

We have buyers and sellers of;

1. Nigerian Bonny Light Crude Oil, BLCO

2. D2 Diesel Fuel, JP54 Jet Fuel, Mazut etc.

3. Saudi Light Crude Oil, SLCO

4. Iraqi Light Crude Oil

If you are a buyer or seller of crude oil or other petroleum products or have mandate to buy or sell any of the above oil products, do contact us because we could be of help.

To contact Crude Oil Facilitators, click here ». To learn more about Crude Oil Facilitators, click here

Crude Oil Facilitators