The deal, which involved GDF SUEZ acquisition of a 25% share in 13 UK onshore licenses, represents their first entry into UK onshore exploration licenses with shale gas and coal bed methane potential.
SLR’s due diligence assignment included assessment and evaluation of each target Petroleum Exploration and Development Licence (PEDL) and exploration licences and addressed a wide range of environmental and Social Licence to Operate (SLTO) characteristics and constraints. The results of the SLR work contributed to GDF SUEZ overall evaluation of each licence as part of their assessment process.
SLR Technical Director Dr Tony Smith said, "The feedback we have received from GDF SUEZ has been very positive and is a testament to the quality of our work as well as our ability to meet tight deadlines. Environmental and SLTO due diligence is an increasingly important component of overall unconventional gas project evaluation".
A significant part of GDF SUEZ investment going forward will be focused on exploration work. This will include the drilling up to four wells targeting shale gas potential in the Bowland Basin and ten wells targeting Coal Bed Methane (CBM).
The project further underlines SLR’s growing expertise, activity and reputation in unconventional gas.
