Genesis Petroleum wins UK and Norwegian Licensing Awards

16 June 2009 (Last Updated June 16th, 2009 18:30)

Genesis Petroleum has confirmed it has been awarded frontier licence P1639 following the UK 25th Seaward licensing round. The licence, which comprises nine blocks and extends to 1,757km² has now been awarded to the company's subsidiary, Genesis Exploration & Production which w

Genesis Petroleum has confirmed it has been awarded frontier licence P1639 following the UK 25th Seaward licensing round.

The licence, which comprises nine blocks and extends to 1,757km² has now been awarded to the company's subsidiary, Genesis Exploration & Production which will act as sole operator on the project.

The award is adjacent to the P1639 UK acreage and contains an oil and gas discovery, the company said. Genesis and its partners will now drill a well within three years on this Norwegian licence.

The company’s other provisional award in the UK 25th licensing round relating to UKCS block 9/9d has been incorporated into the existing adjacent UKCS 9/9e (P1410) licence already held by Genesis Petroleum and Lundin.

Following the awards, Genesis now holds interests in six UK and six Norwegian licences.