North Sea steam flood specialist renamed Pharis
The Steam Oil Production Co., which operates various undeveloped heavy-oil fields in the UK North Sea, has renamed itself Pharis Energy.
LONDON – The Steam Oil Production Co., which operates various undeveloped heavy-oil fields in the UK North Sea, has renamed itself Pharis Energy.
The company, founded in 2014, has a 100% interest in two licenses, P2244 and P2320, which together contain more than 400 MMbbl of discovered oil in place in the Pilot, Blakeney, Harbour, Feugh, Dandy, and Crinan fields.
All are in blocks 21/27 and 21/28, 140 km (87 mi) east of Aberdeen.
Pharis is working on plans to implement what it claims will be the world’s first offshoresteam flood project of scale on Pilot, the largest of the fields, which was discovered by Fina in 1989 and has since been appraised by seven reservoir penetrations, including a horizontal well test that produced more than 1,800 b/d.
Pharis estimates that a conventional waterflood would recover about 50 MMbbl of oil, while a successful steam flood could recover more than 120 MMbbl.
Applying steam flooding to all the UK’s undeveloped offshore heavy-oil fields in shallow sandstone reservoirs could boost North Sea recoverable oil reserves by more than 4 Bbbl, the company claims.