Award of Four Blocks in Second Tranche of 26th Seaward Licensing Round
11 January 2012
Fairfield Energy Limited (“Fairfield”) is pleased to announce that it has been awarded four blocks by Department of Energy and Climate Change (“DECC”) in the second tranche of the 26th Seaward Licensing Round, bringing its total award to six blocks.
In addition to receiving Blocks 48/11c and 48/12b in the first tranche of awards, Fairfield has now been awarded Blocks 48/8d, 48/9b and 48/14c in the Southern Gas Basin, immediately to the North of Centrica’s Ensign Field. Fairfield will operate the licence at 50% interest, with 50% partner Bayerngas Europe Limited.
In addition, Fairfield has been awarded a 50% interest in Block 48/20b along with partner and operator RWE (50%). Block 48/20b lies immediately to the southeast of the Clipper South Field, currently in development, where Fairfield has a 25% interest along with operator RWE (50%) and partner Bayerngas (25%). Subject to approvals, Fairfield will farm down a 25% working interest in Block 48/20b to Bayerngas to mirror the interests at Clipper South.
Fairfield’s Chief Executive Officer, Chris Wright, commented on the awards as follows:
“These latest awards are pleasing and demonstrate the progress Fairfield is making in building a core area in the UK Southern Gas Basin using the knowledge we have gained through the development of the Clipper South Field. Block 48/20b secures acreage immediately to the southeast of our project at Clipper South and the award of blocks 48/8d, 48/9b and 48/14c further strengthens our exploration portfolio, close to existing infrastructure.”
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Fairfield's strategy is to focus on the creation of value in selected blocks which we call Core Areas.
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Fairfield was launched in November 2005 as one of the best-funded UK start-up companies in the North Sea.
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