International oil and gas company Dana Petroleum has raised objections over the ownership of the Eagle exploration well in the Central North Sea which was confirmed as a discovery last week by EnQuest.
On July 1, 2016, EnQuest announced the completion of drilling of the Eagle exploration well in the UK North Sea and confirmed it as a discovery saying it undertook the drilling of the exploration well on a 100% working interest basis.
According to EnQuest, Eagle was acquired along with the company’s other interests in the Greater Kittiwake Area (GKA) in 2014.
To remind, in February 2014, EnQuest acquired a 50% stake and operatorship of GKA which consists of the Kittiwake field and surrounding development/acreage, while Dana holds the other 50%. EnQuest also acquired a 100% interest in the Kittiwake to Forties oil export pipeline.
Dana said on Monday that, prior to EnQuest proceeding to drill the Eagle exploration well, Dana had asserted to EnQuest that EnQuest did not have authority to do so.
“It remains Dana’s position that it has a 50% ownership interest in the Eagle well discovery and it has reserved its rights under the relevant licence, under the Joint Operating Agreement and at law,” the company said in a statement.
Dana also added the company looks forward to the further evaluation of the Eagle results in due course.
Offshore Energy Today Staff