Orcadian Energy plc has been granted a time extension to Phase A of licence P2320 in the UK North Sea.
EMISSIONS
The North Sea Transition Authority (previously known as the Oil and Gas Authority) allowed the extension to 14 May 2023, with the initial term also extended to 14 November 2024.
The company said that licence P2320 would make an important contribution to reducing emissions from the planned development of the Pilot field.
“Orcadian’s preferred means of managing excess gas during the Pilot production phase is to be able to inject it into the gas cap on the Feugh reservoir, which lies within P2320.
“This eliminates any inessential flaring, and means that there will always be gas available to power the highly efficient gas engines which will provide reserve power capacity when the wind doesn’t blow.
“A reliable back-up system is the key to maximising the utility of wind power for offshore operations.”
DRILLING
Orcadian added it needed funds to drill a well on licence P2320 to the Tay reservoir.
The well could be a Bowhead exploration well, a production/injection well on Feugh, an exploration well on the Carra prospect, or potentially an updip appraisal well on the Pilot channels.
The Pilot channels are a contiguous part of the Pilot field not included in the current quoted oil-in-place.
CARRA
Orcadian added it was finalising the terms of the announced farm-out of a 50% interest in the Carra prospect to Carrick Resources.