British company ATP Oil & Gas has won an award in the UK's 25th oil and gas licensing round to operate an oil block in the North Sea.
The UK Department of Energy and Climate Change (DECC) has awarded ATP with a 50% equity interest to serve as the operator of block 9/21a with the other 50% allotted to MOST Oil & Gas.
Block 9/21a includes an undeveloped oil opportunity, encountered in 1990 in 374ft water depth.
The oil discovery is in a Paleocene sandstone interval at a depth of 3,600ft. ATP Oil & Gas will work with its partner to proceed in the technical work and drill an appraisal well, the company said.