Cairn Energy subsidiary Capricorn Norge has exited North Sea licences PL248 C and PL248 I, assigning its 20% interest to licence partner Wellesley Petroleum, effective from 29 June 2018. PL248 C in block 35/11 was earlier partitioned with the 67 sq km portion on the SW of the block and SW of Vega & Byrding fields remaining in the licence, 36.6 sq km on the N of the block and to the N of Byrding and Vega now assigned to PL248 J, and 48 sq km on the NE corner of the block to the E of Byrding now licensed as PL248 I, as of 18 December 2017. With this split Statoil (now Equinor, previously 30% + Op) exited PL248 I & J, assigning its PL248 I share to Wellesley. PL248 C was awarded on 9 April 2013 originally covering 175 sq km, and contains NFW 35/11-16 S (2014, Statoil, 3,554m) which was P&A dry with Late Jurassic Intra Draupne Formation oil shows. Welleslay plans to drill 35/11-21 Grosbeak West in PL248 I in July/August 2018 to test a westward extension of the Grosbeak discovery. Equinor plans to drill Bergand prospect (AKA Echino S) NFW 35/11-21 S in August 2018 in PL248 C. PL248 C partners are Equinor Energy AS (30% + Op), Wellesley Petroleum AS (30%) and Petoro AS (40%). PL248 I partners are Wellesley Petroleum AS (60% + Op) and Petoro AS (40%).
Wellesley Petr. (->30%, Equinor 30% + Op, Petoro 40%) acquires Cairn's 20% (->0%) stake in PL 248 C and PL 248 I.