Australian Hartshead Resources won ten blocks in six licences offered by the North Sea Transition Authority in the 33rd UK licensing round, it said September 17.
The licences add contingent and prospective resources of 1.187 trillion cubic feet net to Hartshead.
All licences have been fully executed and formally awarded. In aggregate this is an additional 627bn ft³ 2C contingent resources and 560bn ft³ prospective resources. Prospective resources are estimated quantities of petroleum and relate to undiscovered accumulations. These estimates have both an associated risk of discovery and a risk of development.
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