Under
the
deal,
Azimuth
will
be
able
to
earn
a
50%
stake
in
the
exploration
area
of
the
block
in
exchange
for
assessing
the
hydrocarbons
potential
of
the
area
and
funding
all
the
associated
geological,
geophysical
and
reservoir
analysis
costs
for
the
first
12
months.
“The
structure
of
the
deal
allows
the
full
potential
of
the
block
to
be
realised
by
highly
motivated
and
dynamic
partners,”
said
Azimuth
senior
vice
president,
David
Sturt.
“We
believe
that
new
technology
and
new
concepts
can
unlock
significant
value
in
the
North
Sea,
which
contains
substantial
yet-to-find…
