Exploration and development company United Oil & Gas has confirmed it has been awarded four blocks in the central North Sea which could contain over 90 million barrels of oil.
The four blocks cover an area of around 500 sq km, and include the Zeta prospect.
They lie 10km from United's previous Crown discovery and are close to the Marigold and Yeoman discoveries and the substantial Piper, MacCulloch and Claymore oil fields.
United said the blocks have been awarded by the oil and gas regulator on the basis of a low-cost work programme involving the purchase of an existing high-quality 3D seismic dataset and detailed geological and geophysical analysis.
“This analysis is planned to better quantify the chance of success and reduce the uncertainty on the estimated oil volumes, ahead of making a drilling commitment,” it said.
United’s chief operating officer Jonathan Leather, said, "We are delighted with these awards, which, based on extensive technical work carried out over the available acreage ahead of the application were our primary focus for the 31st Round.
"This is our second successful UK licencing round and our largest award to date. United has done well to be included in the roster of companies which have been successful in this round, including Chrysaor, Equinor, Chevron and Total."
