InfraStrata plc, together with joint venture partner Carstone Exploration Limited (Carstone), has been offered block 3/11a by the Department of Energy and Climate Change in the UKCS 28th Seaward Licensing Round. InfraStrata will be the Operator with a 50% interest. The partners intend to accept the offer for the block under the terms of a promote exploration licence where a drill-or-drop decision is required within the first two years of the licence period.
The block contains the undeveloped Oulton oil discovery (3/11-1 and 1ST) estimated to contain approximately 16 million barrels of recoverable oil. The discovery was made over 40 years ago by Amoco, and flowed in excess of 1000 barrels of 41 degrees API oil per day on test from Jurassic Emerald sandstones. InfraStrata believes that the use of modern offshore technologies combined with access to nearby infrastructure will enable Oulton to be successfully developed in the near future.