Oil and gas explorer Trapoil is to take control of all or part of 13 North Sea blocks after a farm-in deal with Extract Petroleum.
Trapoil is taking over 100% equity in the promote licence awarded Extract in the latest offshore UK licensing round with Extract retaining a 1% royalty interest from any future production from the blocks.
The majority are east of Shetland with some in the central North Sea close to the Brae fields.
Recommended for you
Exclusive: Skills passport to ‘transform’ North Sea oil and gas workforce
