The 50:50 alliance will cover three areas of the central North Sea and will initially run until the end of 2013. In addition to working together in the anticipated 27th Licensing Round, the companies will pursue joint acquisition opportunities in their focus areas.
Parkmead, whose chief executive is Niall Storan, will act as exploration operator for the partnership.
Deo will assume the role of development operator for any commercial discoveries that are made.
David
