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Maersk Oil cancels two North Sea licenses

Maersk Oil cancels two North Sea licenses

24-11-2016 12:00:00

According to North Sea Energy, Maersk Oil has decided not to renew Bagpuss and Blofeld Licence P. 1943 in the UK North Sea. After Premier Oil decided to withdraw from the Bagpuss license in the North Sea in September, the time has now come for Maersk Oil to do the same.

North Sea Energy is a partner in Bagpuss and Blofeld, which the company describes as "two good opportunities for exploitation in the UK North Sea." The news that Premier Oil would leave the project was also revealed by the North Sea Energy back in September.

North Sea Energy has not disclosed the reasen why Premier Oil and Maersk Oil has decided to leave the cooperation. Neither Premier Oil or Maersk Oil has responded to an email from Offshore Energy Today for further information.

In a stock exchange announcement in September North Sea Energy wrote that Premier, in principle, agreed to sell its 40,1 percent stake in Bagpuss JV to Reach Halibut Limited, subject to certain approvals. In an update on November 17, 2016 Premier stated that the company had sold its stake in the Bagpuss license.

Source: Offshore Energy Today / Maritime Denmark

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