Trapoil brings in Japanese partner for North Sea

Oil and gas explorer Trapoil has added Japan Petroleum Exploration (Japex) to its list of partners as it targets more opportunities in the North Sea.

Japex joins fellow Japanese group Cieco and Abu Dhabi’s national energy company, Taqa Bratani, in Trapoil’s strategic consortium, which was formed in May to bid for new licences made available by the Department of Energy & Climate Change (DECC).

Each of the parties has agreed to pay Trapoil a lump-sum retainer and carry some of its exploration and appraisal costs.

Trapoil chief executive Mark Groves-Gidney said: “The welcome addition of Japex to our strategic consortium demonstrates the commitment that major international companies, with significant financial resources, are willing to make in pursuit of successful exploration and appraisal applications in the 28th licensing round.”

The DECC is expected to launch the new round of licence awards in January.