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Hansa completes farm-out for potentially huge gas prospect in Dutch waters

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Hansa Hydrocarbons said today it had completed a farm-out with GDF SUEZ E&P Nederland – part of the Engie group – in respect of a 30% stake in its 4Quads licences in the Dutch North Sea.

Hansa and GDF SUEZ E&P Nederland will each hold a 30% interest in the licences and EBN, the Dutch state-owned oil and gas firm, the remaining 40% interest.

Operatorship across the 4Quads licences will be transferred from Hansa to GDF SUEZ E&P Nederland upon approval by partners involved in drilling the first exploration well.

The transfer of operatorship will be subject to the approval by the Dutch authorities.

The 4Quads licences are located in the Dutch North Sea next to the German/Dutch median line in water depths ranging from 27-40 metres.

John Martin, chief executive at London-based Hansa said: “We are delighted to be partnering with GDF SUEZ E&P Nederland, the largest operator in the Dutch offshore sector.

“This transaction is an important validation of our technical work and an endorsement of our strategy of pursuing material prospectivity in a mature basin.

“We now look forward to working together with GDF SUEZ E&P Nederland and EBN on the 4Quads to explore this high potential acreage.

“Together with the recently awarded N4, N5, N7c and N8 blocks immediately to the south, this … has the potential to be the most significant conventional gas resource remaining on the Dutch continental shelf.”

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