Ping Petroleum, an independent upstream oil and gas company incorporated in Bermuda, has secured a multi-year license extension for a giant undeveloped North Sea field on the UK Continental Shelf (UKCS).

While revealing the extension of license P2244 , the company’s partner, Orcadian Energy (18.75% carried interest), said that the UK’s North Sea oil and gas regulator, the North Sea Transition Authority (NSTA) , approved a three-year extension to the second term of the Pilot license, with a new expiration date now set as December 1, 2028.