UK Oil & Gas plc (UKOG) has received regulatory consent for a modified retention area at PEDL234 Loxely gas field in Surrey.
APPRAISAL WELL
The company said yesterday that the North Sea Transition Authority (NSTA)’s approval will allow it to focus on accelerating its planned appraisal campaign of its 100%-owned gas discovery.
UKOG has agreed to begin the Loxley-1 appraisal well, designed to confirm the commercial viability of the discovery, by 30 June 2024.
“Loxley-1 is planned to be completed as a future production well, one of only two wells required to produce Loxley’s entire estimated material recoverable gas resources,” added the company.
“The second production well, designed to maintain the desired plateau gas production rate,
must be drilled by summer 2029.”
SEISMIC
If Loxley-1 confirms the discovery’s commercial viability, the company will acquire 10 km² of 3D seismic over the field by 30 June 2025 and submit a field development plan for NSTA consent by the end of 2025.