Parkmead Group ups North Sea interests, explores tie-back with Nexen
Source - SMW
Parkmead said it had upped its equity stake in the Perth and Dolphin oil fields in the UK central North Sea to 100% from a previous holding of around 60%.
The company also signed an agreement with Nexen Petroleum, a subsidiary of the China National Offshore Oil Corporation, to conduct a detailed engineering study.
The study would examine a potential subsea tie-back of the Greater Perth Area project to the Nexen-operated Scott platform and associated facilities in the UK central North Sea.
The Scott facilities lie some 10km southeast of Parkmead's GPA project.
At 9:42am: (LON:PMG) Parkmead Group The PLC share price was +3.5p at 42.95p