Oct. 10, 2018
Sumitomo Corporation has acquired new exploration licenses through UK’s 30th Offshore Licensing Round
Sumitomo Corporation (Sumitomo, Head Office: Chiyoda-ku, Tokyo; Representative Director, President and Chief Executive Officer: Masayuki Hyodo), is pleased to announce that their wholly-owned-subsidiary, Summit Exploration and Production Limited (SEPL, Head Office: London, United Kingdom; CEO: Kevin Smith) has been awarded 3 new exploration license areas in the UK continental shelf through UK’s 30th Offshore Licensing Round.
All of the licenses are operated by SEPL and offered on conditions of seismic reprocessing and ‘drill or drop’ decision.
The followings are the licenses details.
License P2372 - Block 21/1b and 21/6a (part), SEPL: 100% working interest, operator SEPL. These blocks lie to the northwest of Avalon discovery, in which SEPL holds a 50% working interest.
License P2382 - Block 22/14c, SEPL: 50% working interest, Ping Petroleum UK Limited: 50% working interest, operator SEPL.
License P2388 - Block 23/21b, SEPL: 50% working interest, Serica Energy UK Limited: 50% working interest, operator SEPL.
SEPL is delighted to have captured 3 operated licenses. Sumitomo, through SEPL looks forward to continued growth of its business in the UKCS, with a spirit of Maximizing Economic Recovery.
■Sumitomo Corporation’s Material Issues
Sumitomo Corporation Group positions “Six Material Issues to Achieve Sustainable Growth with Society” as an important factor in developing business strategies and in the decision-making process for individual businesses. Going forward, we will pursue sustainable growth by resolving these issues through our business activities. This project especially contributes to “the Development of Local Communities and Industries”.