In May 2021, Kistos acquired Tulip Oil Netherlands (renamed Kistos NL1) and its subsidiary, Tulip Oil Netherlands Offshore (Kistos NL2). This transaction delivered significant gas reserves, production and technical expertise.
Kistos operates several exploration and production (E&P) licences offshore the Netherlands, in which we have a 60% working interest. Our joint venture (JV) partner in the Netherlands, Energie Beheer Nederland (EBN), holds the remaining 40% interest for all our licences.
The deal provided us with 60% interests in, and operatorship of, the producing Q10-A gas field – located 20 km offshore the Netherlands – as well as other oil and gas discoveries in the Dutch sector of the North Sea. Commercial gas production began in February 2019 from the unmanned Q10-A platform. The natural gas is exported through a 42 km pipeline to the TAQA-operated P15-D platform, where it is processed and transported to shore for sale.
The produced gas from Q10-A boasts industry-leading carbon emissions credentials, principally due to the platform being powered by wind and solar energy. In addition, excess power can be stored in a battery for when there is a shortage of generation capacity. Offshore visits are kept to a minimum and are conducted solely by boat, rather than helicopter, reducing the environmental footprint of our operations.
The Q11-B discovery is located in the licence block Q11, around 13 km offshore. An appraisal well was drilled during 2022. Kistos also holds operated interests in the Q10b block, where the Q10-B discovery is located, and we continue to evaluate these opportunities for both appraisal and exploration, respectively.
Following a successful renewal of the licence for the offshore M10a/M11 fields to 2028, Kistos is applying for appraisal well permits and engaging with local municipalities and stakeholders prior to commencing any assessment phase planning work.
| Field or licence | Licence holder | Licence type | Status | Interest at 31 December 2023 |
| M10a/M11 | Kistos NL1 B.V. | Exploration | Operated | 60% |
| Donkerbroek | Kistos NL1 B.V. | Production | Operated | 60% |
| Donkerbroek-West | Kistos NL1 B.V. | Production | Operated | 60% |
| Akkrum-11 | Kistos NL1 B.V. | Production | Operated | 60% |
| Q07 | Kistos NL2 B.V. | Production | Operated | 60% |
| Q08 | Kistos NL2 B.V. | Exploration | Operated | 60% |
| Q10-A | Kistos NL2 B.V. | Production | Operated | 60% |
| Q10-B | Kistos NL2 B.V. | Exploration | Operated | 60% |
| Q11 | Kistos NL2 B.V. | Exploration | Operated | 60% |
| P12b | Kistos NL2 B.V. | Exploration | Operated | 60% |
| Q13b6 | Kistos NL2 B.V. | Exploration | Operated | 60% |
| Q146 | Kistos NL2 B.V. | Exploration | Operated | 60% |
[1] Following successful appeal against non-renewal (decision received in July 2023), the licence was re-awarded to Kistos retroactively from 30 June 2022.
[2] Awarded during the current period.