Orcadian Energy (AIM:ORCA) has executed a formal agreement with Carrick Resources which will see the latter farm in to a 50% share of its Carra prospect in exchange for further seismic interpretation.
Having secured assurance from the OGA, Orcadian Energy is now working to progress a low-carbon field development plan for its flagship Pilot field, with a view to bringing partners in 2022.
‘Really important step’: Orcadian hits key OGA milestone for development of 80million-barrel Pilot project
Orcadian Energy has taken "a really important step" on the way to pushing through its 80million-barrel Pilot field in the UK North Sea.
Orcadian Energy (LON: ORCA) has announced a deal to farm out the Carra prospect in the UK North Sea to Carrick Resources.