i3 Energy plc and Europa Oil & Gas (Holdings) plc have opened talks on acreage surrounding the Serenity oil discovery, which has become unlicensed.
INVESTMENT
Little progress has been made on the Blake, Tain and Serenity area while in October 2022 the partners abandoned the SA02 well which failed to show hydrocarbons.
i3 said that the Tain discovery licence, held by RSRUK and Rockrose Energy, had now lapsed and was available for re-licence.
“We have been working for some time to advance a solution for the Blake / Tain / Serenity area but this has made little progress whilst the previous Tain licensees were unable to approve additional investment,” added the company.
“With the acreage now unlicensed, additional options for the area may now come available and i3 and its partner in the Serenity field, Europa Oil & Gas are commencing discussions with the NSTA [North Sea Transition Authority] and other interested parties to explore the remaining potential of the wider area.”