i3 Energy Plc (LON:I3E) told investors that it continues to see progress with its partnering efforts, with talks ongoing with multiple potential joint venture partners.
In late 2017, the junior North Sea oiler kicked off the process for a potential farm-out, that could deliver funding to develop the Liberator field.
READ: i3 Energy successfully completes survey for Liberator field planning
The talks are based around both the future of Liberator and a potential extension, within an area that i3 has applied for in the most recent UK offshore licensing round.
"We are pleased to report that we are making continued progress on our JV discussions with multiple industrial partners relating to both i3's 100% owned Liberator Oil Field and its 30th Round application,” said Neill Carson, i3 chief executive.
“We look forward to updating our shareholders as agreements materialise."
The company said there can be no certainty that the negotiations and discussions will lead to definitive agreements.