Maersk farms into prospective North Sea Isabella acreage

Offshore staff

WOKING, UK – Valiant Causeway has agreed to a farm-out agreement with Maersk Oil on the Isabella prospect in the UK central North Sea. The structure extends over blocks 30/6b, 30/11a, and 30/12d in license P1820.

Isabella is a gas/condensate prospect on what Valiant claims is one of the largest undrilled fault blocks in the sector with prospectivity across multiple geological horizons.

Valiant’s well costs will be part-carried by Maersk subject to a cap on the promoted costs. In addition, Maersk will refund to Valiant certain historic costs associated with the license.

Subject to UK government approval, the P1820 partners will comprise operator Apache North Sea (50%), Maersk Oil North Sea (30%), and Valiant Causeway (20%).

3/14/2013

Related Articles

Iona negotiating farm-out of Orlando in North Sea

Aug 28, 2015

Iona Energy expects cost for the Orlando tieback to the Ninian Central platform in the UK northern North Sea during 2015-2016 to be reduced from $215 million to $192 million. 

NPD authorizes start-up of subsea compression at Gullfaks offshore Norway

Aug 27, 2015

Statoil and its partners have secured the consent of the Norwegian Petroleum Directorate to operate a new subsea wet gas compressor and umbilical on the Gullfaks field in the North Sea.

Total strikes deal for stakes in UK offshore gas trunklines

Aug 27, 2015 Total has agreed to sell its interests in the FUKA and SIRGE gas pipelines in the UK North Sea and the St. Fergus Gas Terminal north of Aberdeen to North Sea Midstream Partners for £585 million ($9...

Undeveloped UK fields deserve attention, report claims

Aug 27, 2015

Consultants Hannon Westwood (HW) have issued a new report on near-term developments affecting the UK continental shelf (UKCS).

CGG upgrades Norway offshore database

Aug 27, 2015

CGG says its Akon E&P data management solution is now operational for users.

Trending News

Offshore photo of the day

Eni to implement Landmark E&P software

Sep 1, 2015

Eni has entered into a multi-year contract with Landmark, a Halliburton business line, for its entire suite of exploration and production applications.

FPSO Cidade de Itaguaí enters production offshore Brazil

Sep 1, 2015

Operating in the Iracema Norte area of Lula field offshore Brazil, the FPSO Cidade de Itaguaí has achieved first oil production five months ahead of the schedule, according to MODEC.

SMOE, Subsea 7 clinch North Sea Culzean topsides/subsea contracts

Sep 1, 2015

Maersk Oil has issued two major contracts for its Culzean high-pressure/high-temperature gas/condensate field development in the UK central North Sea.

  Offshore
Digital Magazine
Look Inside
Cover
Current Issue
Click to view the Offshore Learning Center

Oil & Gas Jobs

Search More Job Listings >>