Hansa Hydrocarbons Limited has completed a farm-out with GDF SUEZ E&P Nederland B.V. (part of the ENGIE Group) in respect of a 30% interest in its 4Quads licences (blocks G18, H16, M3 and N1) in the Dutch North Sea.
Pursuant to this transaction Hansa and GDF SUEZ E&P Nederland B.V. will each hold a 30% interest in the licences and EBN, the Dutch state entity, the remaining 40% interest.
Operatorship across the 4Quads licences will be transferred from Hansa to GDF SUEZ E&P Nederland B.V. upon approval by the parties of the drilling of the first exploration well. The transfer of operatorship will be subject to the approval by the Dutch authorities.
The 4Quads licences are located in the Dutch North Sea adjacent to the German/Dutch median line with the mid-point 68 km north of the mainland. Water depths range from 27m to 40m. The primary exploration objective is the continuation of the basal Rotliegend play proven in the neighbouring German H&L licences where Hansa holds a 20% interest.
A 965 square km 3D seismic survey was acquired in 2014 over the 4Quads licences which should enable the direct mapping of reservoir sands across a mega closure which is the key driver of the prospectivity. With the processing of this survey now complete, interpretation is underway with the aim of maturing prospectivity by end 2015, after which drilling targets can then be established.
John Martin, Hansa Hydrocarbon’s CEO, said: “We are delighted to be partnering with GDF SUEZ E&P Nederland, the largest operator in the Dutch offshore sector. This transaction is an important validation of our technical work and an endorsement of our strategy of pursuing material prospectivity in a mature basin.
“We now look forward to working together with GDF SUEZ E&P Nederland and EBN on the 4Quads to explore this high potential acreage. Together with the recently awarded N4, N5, N7c and N8 blocks immediately to the south, this emerging basal Rotliegend play has the potential to be the most significant conventional gas resource remaining on the Dutch continental shelf.”