UK-based exploration minnow Cluff Natural Resources (CLNR) has entered into a further memorandum of understanding (MOU) with Halliburton.
The move will see the pair to collaborate on the development of CLNR's southern UK North Sea gas assets as well as its underground coal gasification (UCG) assets, for a further two years.
CLNR anticipates that working with Halliburton will continue to facilitate the development of its five southern North Sea gas licenses, which are close to the Breagh Gas field, and to facilitate the development of CLNR's portfolio of nine UCG licenses which provide exposure to five different coal basins in the UK.
This will include the acceleration of the development of knowledge and capabilities of CLNR in relation to its assets, technical consultation and the provision of technical and consultancy services and projects by Halliburton.
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, CEO and chairman of CLNR, said: "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."
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