Alpha ups estimate of recoverable oil from North Sea Cheviot field

Alpha Petroleum has issued an update on its development plans for its fields in the UK North Sea.

Offshore staff

LONDONAlpha Petroleum has issued an update on its development plans for its fields in the UK North Sea. The company was acquired in February 2014 by private equity firm Petroleum Equity.

A multi-disciplined team has re-evaluated the hydrocarbon potential of Alpha’s 100% owned and operated Cheviot oil field in part-blocks 2/10b, 2/15a, and 3/11b in the northern UK sector.

Their conclusion is that a combination of re-injected produced gas and water injection, along with optimized well numbers and well lengths, could increase recoverable oil volumes to at least 55 MMbbl, with further upside potential.

A simultaneous development of the adjacent Peel oil field and future development of gas from both fields could increase the reserves potential of the licenses to more than 75 MMboe.

In parallel, Alpha has been assessing various development concepts, and is currently preparing a development plan based around an FPSO for submission to the UK government by September.

The project would also be designed for future gas exports and the tieback of discoveries in adjacent acreage.

In the UK southern gas basin, Alpha has also progressed development planning for the 32-bcfBlythe field in blocks 48/22 and 48/23a. It has been working with owners of adjacent offshore infrastructure owners to determine the optimum export route.

Alpha expects to submit a development plan forBlythe by September.

As for the company’s producing gas fields in the region Garrow, Kilmar and Wenlock, which it acquired from ATP, investments have been directed at improving the well performance and increasing the reliability of the production facilities. This work will continue in 2015 and beyond.

In addition, the Kilmar joint venture is re-evaluating undeveloped parts of the field to determine whether further drilling is economically viable.

03/19/2015

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