A new license agreement for Heritage Petroleum is set to bring in close to $100 million in payments to government over 6 years.
According to the company, its new license combines the previous Trinmar area and the North Marine area for which licenses expired in November 2019.
This, it says, creates a single block of just over 96,000 hectares of offshore acreage, making it the single largest offshore exploration and production block on the west coast.
The new license was executed at a signing ceremony held today at the Ministry of Energy’s Tower C office at the International Waterfront Centre.
