Summit Exploration and Production has farmed out its P.2382 (Block 22/14c) UK Central North Sea license to Dana Petroleum E&P Limited.
License P.2382 contains the K2 prospect a low-risk, gas, exploration target that is within close proximity to established infrastructure.
Summit said on Thursday that regulatory approval for the farm-out was already received from the OGA. Under the deal, Dana will acquire a 50 per cent working interest in the license with Summit retaining 50 per cent along with operatorship.
Northbridge Industrial Services plc (LON:NBI) hires and sells specialist industrial equipment to a non-cyclical customer base. With offices or agents in the UK, US, Dubai, Belgium, Germany, France, Australia, Singapore, New Zealand, Brazil and Korea, Northbridge has a global customer base.