Partners sanction Seagull offshore the UK

Neptune Energy and its joint venture partners BP and Japex have taken the final investment decision for the Seagull oil project in the UK North Sea.

Offshore staff

LONDONNeptune Energy and its joint venture partners BP and Japex have taken the final investment decision for the Seagull oil project in the UK North Sea.

Seagull is expected to initially produce around 50,000 boe/d (80%) across its 10-year design life. Proved plus probable gross reserves are estimated at 50 MMbbl.

The partners have submitted the Seagull field development plan (FDP) to the Oil and Gas Authority (OGA). Execution works will begin subject to the OGA’s approval of the FDP, with first production planned by the end of 2021.

Seagull is a high-pressure/high-temperature development in the UK central North Sea on license P1622 block 22/29C, 17 km (11 mi) south of the BP-operated ETAP central processing facility (CPF).

Seagull will be tied back to the ETAP CPF partially using existing subsea infrastructure. Gas from the development will come onshore at the CATS processing terminal at Teesside, while oil will come onshore through the Forties Pipeline System to the Kinneil Terminal, Grangemouth.

Jim House, Neptune CEO, said: “Seagull is a low cost, near-term development in close proximity to existing infrastructure. It complements our existing assets in the North Sea and provides growth and greater diversity for our UK business.”

Neptune is the operator of Seagull and has a 35% equity interest. BP has 50% and Japex 15%.

03/29/2019

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