Finder Energy Holdings Limited (Finder or Company) (ASX:FDR) is pleased to announce that it has received an offer letter from the North Sea Transition Authority (NSTA) notifying that it has been successful in winning a licence in the 33rd UK Offshore Licensing Round.
The license comprises blocks 16/8b and 16/13c (License) and is located within the South Viking Graben in the Central North Sea. The license has been offered by the NSTA in priority as part of the first tranche of awards in the 33rd Round because it has been identified by NSTA as having the potential to go into production quicker than other blocks.
The License contains the large Boaz gas/condensate prospect and is located on the UK/Norway Median line close to host facilities operated by Equinor, including Gina Krog and Sleipner.
Finder’s bid was made in partnership with Equinor with Finder nominated as the License Administrator (Operator).
Commenting on the 33rd Round award, Managing Director, Damon Neaves, said:
“Boaz is an exciting prospect because of its potential size and our partnership
with Equinor on this license opens up development pathways linked to gas
markets in Western Europe. We’re pleased to be part of the NSTA’s priority
awards which are focused on projects with potential for near term production.
We look forward to providing a full update on this project soon.”
The NSTA have indicated that the majority of blocks offered in the 33rd Round will be awarded once the regulatory process has been completed and Finder expects to hear the outcome of its remaining bids early next year.
Acceptance of the award and finalisation of joint venture arrangements will occur in the coming weeks.
