REG - Kistos Holdings PLC - 33rd Offshore Licencing Round

Kistos HoldingsAnnouncement

21/08/2024 07:00

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RNS Number : 1708B  Kistos Holdings PLC  21 August 2024

21 August 2024

 

Kistos Holdings plc

 

("Kistos" or "the Company")

 

33(rd) Offshore Licencing Round

 

Kistos (LON: KIST), is pleased to announce that TotalEnergies, together with
Kistos as joint venture partners (the "JV Partners"), has been offered seven
new blocks or part blocks in the Greater Laggan Area, West of Shetlands
offshore the UK. On completion of the licencing round, Kistos will hold a
33.3% working interest in all of the acreage, with TotalEnergies assuming
Operator status.

 

The full list of blocks and part blocks is as follows:

 

 Area                 Block
 Greater Laggan Area  206/2a
                      214/27
                      214/28a
                      214/29a
                      214/22a
                      214/23a
                      214/24a

 

These blocks lie within the Greater Laggan Area ("GLA"), where the JV Partners
already produce oil and gas from the Laggan, Tormore, Glenlivet, and Edradour
fields. The blocks were applied for during the 33(rd) Offshore licencing
round, with submissions made in January 2023, and were previously held by the
GLA JV prior to Kistos' acquisition of 20% non-operated stake from
TotalEnergies in 2022.

 

The award of these blocks, which include the previously identified Ballechin
exploration prospect, supports the JV Partners' efforts to identify
opportunities to extend the life of existing infrastructure and maximise
economic output. The work programme includes studies on a seismic dataset that
is already owned by the JV Partners.

 

 

 

 Kistos Holdings plc                                 via Hawthorn Advisors

 Andrew Austin

 Panmure Liberum (NOMAD, Joint Broker)               Tel: 0207 886 2500

 James Sinclair-Ford / Dougie McLeod / Mark Murphy

 Berenberg (Joint Broker)                            Tel: 0203 207 7800

 Matthew Armitt / Ciaran Walsh

 Hawthorn Advisors (Public Relations Advisor)        Tel: 0203 745 4960

 Henry Lerwill / Simon Woods

 Camarco (Public Relations Advisor)                  Tel: 0203 757 4983

 Billy Clegg

 

Notes to editors

 

Kistos Holdings plc was established to acquire and manage companies in the
energy sector engaging in the energy transition trend. The Company has
undertaken a series of transactions including the acquisition of a portfolio
of highly cash generative natural gas production assets in the
Netherlands from Tulip Oil Netherlands B.V. in 2021. This was followed
in July 2022, with the acquisition of a 20% interest in the Greater Laggan
Area (GLA) from TotalEnergies, which includes four producing gas fields and a
development project. In May 2023, Kistos completed the acquisition of Mime
Petroleum A.S. adding 24 MMboe of 2P reserves and significant production.
In April 2024, Kistos completed the acquisition of UK gas storage assets,
which due to the fast cycle nature of the facility, can deliver up to 11% of
the UK's flexible daily gas capacity if called upon.

 

Kistos is a low-carbon intensity energy producer with Estimated Scope 1 CO(2)e
emissions from our operated activities offshore Netherlands of less than
0.01 kg/boe in 2023 (excluding necessary flaring during drilling campaigns).

 

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