By Alex MacDonald
LONDON--U.K.-listed oil and gas explorer Rockhopper Exploration
PLC (RKH.LN) said Monday that it has been awarded a 40% interest in
offshore Block 9 in Croatia in partnership with Italy-based oil
major Eni SpA (E), the block's operator with a 60% interest.
The block is located in the relatively shallow water in the
Northern Adriatic gas province and contains the previously
discovered Ksenija prospect along with the Klaudija prospect.
Rockhopper, which also has interests around the Falkland Islands
and the Greater Mediterranean region, said the anticipated work
program for Block 9 consists of seismic survey acquisition,
processing and re-processing during the first exploration phase,
which should last about three years. Rockhopper will then consider
whether to take part in the second phase of the project which will
involve drilling a well.
Rockhopper, Eni and the Croatian government must complete a
Production Sharing Contract by April 2.
Rockhopper has a market capitalization of GBP189 million or $291
million.
Write to Alex MacDonald at alex.macdonald@wsj.com
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