Irish-founded exploration company United Oil and Gas has been awarded two prospective blocks in the UK, one of which could contain as much as 16 million barrels of recoverable oil.
The London-listed explorer has been provisionally awarded a 95 per cent interest in Blocks 15/18d and 15/19b which cover an area of 13.6sq km and contain multiple targets.
The blocks, which have been applied for in conjunction with private oil and gas exploration company Swift Exploration Ltd, are close to the substantial Piper, MacCulloch and Dumbarton/Donan oil fields.
Block 15/19b contains the Palaeocene Crown Discovery, which was made following the drilling of well 15/19-9 in 1998 by ConocoPhillips.
The blocks have been awarded on the basis of a work programme involving seismic reprocessing to reduce the uncertainty on the estimated oil volumes and to optimise the location of any future development well.
