Azinor sees oil potential in UK North Sea license

Offshore staff

LONDONAzinor Catalyst has agreed to acquire a 100% working interest in UK North Sea license P.1989 from Noreco UK and Trap Oil. The license covers blocks 14/11, 14/12, and 14/16.

Under the terms of the transaction, Azinor has already completed the outstanding firm work program obligations through the purchase of new 3D Geostreamer seismic data over the blocks.

In addition, the company will make contingent milestone payments to Noreco and Trap, and cover the full cost of future drilling activity. However, the transfer has still to be ratified by Britain’s Department of Energy and Climate Change.

Henry Morris, Azinor’s technical director, said the license includes two large oil prospects in Homer (mid case recoverable resources 150 MMboe) and Washington (mid case resources 80 MMboe), both updip from the Ithaca-operated Athena field.

“We are one of a few companies to have looked at the new seismic and definitely the first to have pushed it hard technically,” he added. “Historically this area has only been covered by 2D seismic and now we have new good-quality broadband seismic data.

“What’s even more exciting is our internal QI (quantitative interpretation) work indicates the presence of oil at Homer with the new the seismic data.”

Nick Terrell, managing director, said: “Going forward, and given our high working interest position on the license, we will be looking for partners to join us in the drilling of a potential exploration well.”


Share your news with Offshore at

Homer oil prospect in the UK North Sea license P.1989 Azinor Catalyst
(Courtesy Azinor Catalyst)

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now


Making DDoS Mitigation Part of Your Incident Response Plan: Critical Steps and Best Practices

Like a new virulent strain of flu, the impact of a distributed denial of service (DDoS) attack is...

The Multi-Tax Challenge of Managing Excise Tax and Sales Tax

To be able to accurately calculate multiple tax types, companies must be prepared to continually ...

Operational Analytics in the Power Industry

Cloud computing, smart grids, and other technologies are changing transmission and distribution. ...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...