Shell has farmed in to UK southern North Sea exploration acreage held by junior company Cluff Natural Resources, demonstrating the supermajor’s continuing appetite to explore for gas in one of the most mature provinces in the world.
The agreement will see Shell acquire a 70% working interest and take over as operator of licence P2252 in return for covering costs of exploration work it is hoped will lead to the drilling of a well on the Pensacola prospect.
