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Avalon Discovery Announcement

April 27, 2017 | by admin

Summit Exploration and Production Limited, hereinafter SEPL (Kevin Smith, Chief Executive Officer), a subsidiary of Sumitomo Corporation (Kuniharu Nakamura, President and Chief Executive Officer), has farmed out 50% of its interest in the Avalon discovery, UK North Sea block 21/6b, to Ping Petroleum UK (Ping UK).  SEPL and its partner, Ping UK, will drill an appraisal well in Q3 2017 and have contracted with Stena Drilling to use the semi-submersible drilling rig, Stena Spey.

Partners:

SEPL 50% (License Operator)

Ping UK 50%

SEPL acquired its interest in 2012, through the 27th Licensing Round.

Inquiries: 

http://www.sumitomocorp.co.jp/english/info/

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