Oil and gas explorer Trapoil is to take control of all or part of 13 North Sea blocks after a farm-in deal with Extract Petroleum.
Trapoil is taking over 100% equity in the promote licence awarded Extract in the latest offshore UK licensing round with Extract retaining a 1% royalty interest from any future production from the blocks.
The majority are east of Shetland with some in the central North Sea close to the Brae fields.
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