Kistos Holdings plc has won its appeal against Dutch regulators for a five-year extension to the M10/M11 licence in the Netherlands North Sea Shelf.
ESTIMATES
Third-party technical reports estimate the licence contains technically recoverable 2C resources net to Kistos of 174 bcf or 31.7MMboe.
Kistos estimates the group’s 2P reserves of 36.2MMboe and 2C resources of 72.2MMboe, taking overall group 2P reserves plus 2C resources to 108.4MMboe.
The company holds a 60% operated working interest and EBN has a 40% working interest.
APPRAISAL WELL
Kistos has completed stakeholder mapping in preparation for further drilling of the field and will now apply for a permit for an appraisal well.
Executive chairman Andrew Austin said the licence extension increased the potential for domestic gas supply to meet domestic demand.
“Whilst the delay to the M10/M11 project has been frustrating, we are pleased that the right outcome has been achieved and look forward to working with the local municipalities to obtain the relevant permits to appraise the field.
“We continue to work with our partners in all three jurisdictions [includes UK and Norway] to mature further resources to reserves prior to year end.”