The Parkmead Group will drill its first exploration well in Skerryvore as it increases its stake from 30% to 50% in the high-impact UK central North Sea project.
INFRASTRUCTURE
The operator’s joint venture partners are Serica Energy (UK) Ltd with 20% and CalEnergy (Gas) Ltd holding 30%.
The company said that its geotechnical work programme had confirmed the “considerable multi-interval potential” of Skerryvore.
“The planned well will target the main stacked exploration prospects, at Mey and Chalk level, which studies indicate could contain 157 million barrels of oil equivalent (MMBoe) in the P50, most likely case.
“The licence also contains additional prospectivity at the Ekofisk and Jurassic levels.
“A successful discovery could be tied into existing and planned infrastructure in the vicinity.”
Executive chairman Tom Cross added that the company had made significant progress on the licences and that the decision to drill was a major milestone.
“Parkmead will continue to evaluate the exploration potential of other licences it holds.
“We are seeing renewed UK government interest in the North Sea, as it seeks to bolster energy security, and we are excited by the opportunities that exist within our assets in this prolific region.
“Increasing our stake in Skerryvore comes on the back of delivering record gas revenues this year in the Netherlands.”