Angus Energy plc said it would conduct surveys and re-interpretations before submitting a planning application for a sidetrack for the onshore Lidsey oil field (PEDL241) near Bognor Regis, West Sussex.
TIMETABLE
The company, which holds an 80% interest, said that seismic acquisition by Rees Onshore Seismic and Stryde was complete and reprocessing by realtimeseismic.com was also due to be completed this week.
“The survey will tie-in the existing seismic lines to define the subsurface structure,” said Angus in a statement.
“Thereafter we are allowing until the middle of September for re-interpretation and discussion with our partners in this licence before presenting to shareholders.
“Should the new seismic, as adjusted for our revised depth conversion, continue to be as promising as presently expected, we would move to a planning application for a side track on this low impact site together with an amendment to our field development plan and subsequently regulatory submissions to HSE.
“We have confirmed with Environment Agency that the side-track can be drilled under our existing standard rules permit.
“Given likely planning permission timetables, a side track is unlikely to be carried out until we are into 2022.”
Angus added that with a licence holding of 80%, the company had some flexibility in terms of farming out some or all of the capital cost to third parties.