The fourth production well is due to be spud before year-end and come onstream, and should extend the field’s productive life by up to three further years. The previous producer was drilled in 2017.
Chestnut, which came onstream a decade back, was initially expected to produce 7 MMbbl of oil over a two-year period, but following additional investments by operator Spirit and partner Dana Petroleum, the field has since delivered more than 24 MMbbl.
Neil McCulloch, the company’s executive vice president Technical & Operated Assets, said: “Over time and with new technology we have understood more about the properties of the Chestnut reservoir.
“Rather than rest on our laurels, I am proud that we have gone further and secured the future for the offshore crews while extending the life of an important field for us. This is a good example of MER UK in practice and an asset being in the right hands.”