Cluff Natural Resources has entered into a further memorandum of understanding (MOU) with Halliburton, to collaborate on the development of CLNR's Southern North Sea gas assets.
The MOU extension all covers the Underground Coal Gasification (UCG) assets, for a further two years. The Company anticipates that working with Halliburton will continue to facilitate the development of its five Southern North Sea gas licences, which are located in close proximity to the Breagh Gas Field.
The MOU reflects CLNR's and Halliburton's desire to establish areas of possible joint collaboration in the development of the Company's Southern North Sea gas and UCG assets.
In due course the parties intend to enter into a separate written agreement(s) in relation to the services to be provided by Halliburton. The MOU will remain in place until 5 February 2018, unless terminated in advance by either party providing 30 days' written notice.
Algy Cluff, Chief Executive & Chairman, commented: 'We are delighted to be announcing the extension of our MOU with Halliburton for our UK gas and UCG assets and are excited about the prospect of continuing to develop our strategic relationship. Halliburton is one of the world's largest providers of products and services to the energy industry and its expertise and capabilities offer our company the opportunity to accelerate the development of our assets. The extension for a further two years reflects the strength of the relationship that has been built in the last year and the commitment to develop this strategic relationship further.'
Edited from press release by Angharad Lock
Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/19022016/cluff-announces-two-year-extension-of-mou-with-halliburton-2541/