UK-based Hansa Hydrocarbons has completed a farm-out agreement with GDF Suez E&P Nederland in respect of a 30% interest in its 4Quads licences in the Dutch North Sea.
Following the deal, Hansa and GDF will each hold a 30% interest in the licences, including blocks G18, H16, M3 and N1 that are located in the Dutch North Sea adjacent to the German/Dutch median line with the mid-point, 68km north of the mainland.
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Netherlands state-owned EBN will hold the remaining 40% interest.
Upon approval by the parties of the drilling of the first exploration well, operatorship across the licences will be transferred from Hansa to GDF, which is subject to approval by Dutch authorities.
Hansa Hydrocarbon CEO John Martin said: "This transaction is an important validation of our technical work and an endorsement of our strategy of pursuing material prospectivity in a mature basin.
"Together with the recently awarded N4, N5, N7c and N8 blocks immediately to the south, this emerging basal Rotliegend play has the potential to be the most significant conventional gas resource remaining on the Dutch Continental Shelf."
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By GlobalDataThe licences are located in water depths ranging from 27m to 40m.
The primary exploration objective is to continue the basal Rotliegend play proven in the neighbouring German H&L licences where a 20% interest is held by Hansa.
Last year, a 965km² 3D seismic survey was acquired over the licences, where direct mapping of reservoir sands is possible across a mega closure.
In September 2014, the company successfully completed its 3D seismic survey across the 4Quads licence offshore Netherlands covering about 965km².
The survey was conducted by Schlumberger’s subsidiary company MV WG Amundsen of WesternGeco.
Image: Blocks G18, H16, M3 and N1 are located in the Dutch North Sea. Photo: courtesy of num_skyman/FreeDigitalPhotos.net.
