PanCanadian successful in UK 17th Licensing Round

Apr 16, 1997 02:00 AM

PanCanadian North Sea Ltd, has been awarded interest in three offshore licenses in the UK 17th Offshore Licensing Round. PanCanadian's 17th Round awards all lie in deepwater frontier areas of the UK and comprise in total 12.5 UKCS blocks, or over 600,000 gross acres. PanCanadian has interest ranging up to 33 % in these blocks.
Two of the licenses were awarded with partners Phillips Petroleum Company UK and Marathon. Marathon will operate Tranche 37 in the North Rockall Trough and Phillips will operate Tranche 60 in the West of Shetlands area. The third license, Tranche 61 lies immediately east of Tranche 60 and was jointly awarded with partners Mobil North Sea Ltd., Statoil (UK) Ltd., Enterprise Oil plc, Phillips, Marathon and Anadarko North Sea Company. Operatorship of this Tranche will be announced shortly.

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