LONDON – Cluff Natural Resources has commissioned a commercial feasibility study for the Dewar prospect in the UK central North Sea.
The Oil & Gas Authority recently awarded the company a 100% interest in the surrounding license P2352, under the UK’s 30th Offshore Licensing Round.
io oil and gas consulting’s early-stage study has identified a potentially viable scenario involving a two-well subsea tieback to the BP-operated Eastern Trough Area Project central processing platform, 5 km (3.1 mi) northwest of Dewar. But the study also considered other potential offtake options.
Cluff has started a farm-out process with a view to attracting one or more partners to fund future exploration on the block, with a commitment to drill at least one well on Dewar.
Evaluation based on recently re-processed 3D seismic data and drilling results (not available to the previous license holders) suggests the prospect could contain up to 272 MMbbl of light oil with P50 prospective resources of 39.5 MMbbl in the Forties sandstone.
Cluff adds that a clear AVO anomaly strengthens the geological chance of success to 41%.
Dewar, in 90 m (295 ft) water depth, could be drilled with a heavy-duty jackup it adds, and estimates costs for a well at around £17 million ($21.4 million), including a 15-day well test.