Corallian submits proposal for Shetlands area Victory gas project

Offshore staff

LONDON – Corallian Energy has submitted a development plan for the Victory gas field, 50 km (31 mi) northwest of the Shetland Islands, to the UK’s Oil and Gas Authority (OGA).

According to Reabold Resources, which owns 49.99% of Corallian’s shares, the associated environmental statement should be finalized during the current quarter and issued to the Department for Business, Energy and Industrial Strategy’s Offshore Petroleum Regulator for Environment & Decommissioning, as part of the approval process.

If all goes to plan, the OGA could grant approval toward the end of 2022.

RPS Energy’s recent Competent Persons Report, incorporating results from static and dynamic modeling and well/network optimization studies, estimates a technically recoverable resource of 179 bcf pf dry gas.

01/06/2022