Valiant
said
on
Friday
its
wholly-owned
subsidiary
Valiant
Causeway
had
signed
the
farm-out
agreement
with
Maersk’s
British
subsidiary,
Maersk
Oil
UK,
in
relation
to
the
North
Sea
blocks
30/6B,
30/11A
and
30/12D,
which
make
up
the
P1820
project.
Under
the
deal,
Maersk
will
partially
carry
Valiant’s
well
costs
to
a
capped
amount,
as
well
as
refund
certain
previous
costs
associated
with
Valiant’s
interest
in
the
licence.
Upon
completion
of
the
transaction,
Maersk
will
attain
a
30%
interest
in
P1820
while
Valiant’s
stake
will
dilute
from
50%
to
20%.
US
independent
Apache
will
retain
its…
