Viaro reaches deal to acquire Spark west of Shetland interests

March 1, 2023

RockRose Energy has an agreement to acquire Spark Exploration UK (P2412) from Australian owner Spark New Energies.

This Tuck 3D perspective map illustrates the seismic inversion high gas probability area in red, located adjacent to Well 206/11-1, which flowed gas.

Offshore staff

LONDON — Viaro Energy subsidiary RockRose Energy has an agreement to acquire Spark Exploration UK (P2412) from Australian owner Spark New Energies.

The transaction includes a 50% interest in license P2593, 50% in the Tuck gas field appraisal prospect and similar interests in the Boulmer, Cherry and Sammy exploration prospects.

Map of the acreage position in the West of Shetlands

Viaro’s priority would be to develop Tuck first, with initial net estimated capex to Viaro of £208 million ($250 million), to achieve first gas by 2028.

Viaro CEO Francesco Mazzagatti said, “The acquired assets nicely complement our existing production from the [TotalEnergies-operated] Greater Laggan Area [GLA], and in the event of a successful appraisal drilling program, we would evaluate a tie-in to the GLA.”

03.01.2023