North Sea gas and oil explorer Trap Oil said it has been provisionally awarded three new traditional licences covering nine new North Sea exploration blocks.
Trap was given the provisional awards via the UK's 27th licensing round and will be carried out through its partnership with Noreco, of which it owns 50%.
"We are delighted to have received these provisional awards under DECC's 27th Licensing Round, a testament to our knowledge and expertise in the UKCS," said Chief Executive Mark Groves Gidney.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
"The attainment of operatorship is a key milestone in the company's development and positions us strongly," he added.
Amongst others, Noreco will operate on the flank of The Moray Firth, Witch Ground Graben, which lies in Trapoil's core exploration area immediately to the west of the Athena field and the Bordeaux and Brule discoveries.
December 2023 NS&I Premium Bond winners - check now to see what you’ve won
If you hold money in NS&I Premium Bonds, you can check from today (2 December) to see if you have won in the December prize draw. Here’s how to check.
By Vaishali Varu Published
OpenAI – corporate drama unleashed
OpenAI, the firm behind ChatGPT, was in uproar as its boss was booted out, briefly snapped up by Microsoft and then brought back again.
By Dr Matthew Partridge Published