Anglo-Dutch supermajor Shell has exercised an option to farm in to Cluff Natural Resources’ Licence P2437, which contains the 291 billion cubic feet Selene prospect in the UK North Sea, with a 50% interest.
Shell aims to drill an exploration well on the Selene prospect at the soonest possible opportunity, it said. Under this deal, Shell will pay a total consideration of $600,000 to Cluff.
