Parkmead strengthens case for new North Sea oil hub

Parkmead has increased its equity in the Perth and Dolphin oil fields in the UK central North Sea to 60.05%.

Sep 14th, 2016

Offshore staff

ABERDEEN, UKParkmead has increased its equity in the Perth and Dolphin oil fields in the UK central North Sea to 60.05%.

The two fields span blocks 15/21a, b, c, and f and 14/25a in the Moray Firth area over licenses P.218, P.588, and P.2154.

Parkmead plans a development known as thePerth-Dolphin-Lowlander oil hub project.

Perth and Dolphin are Upper Jurassic Claymore sandstone accumulations that have tested 32-38° API oil at production rates of up to 6,000 b/d per well.

Parkmead is considering a joint development also incorporating the Lowlander oil discovery, which it claims could recover more than 80 MMbbl out of more than 400 MMbbl in place.

In addition, the company may look to tie in thePolecat and Marten fields: last month Parkmead increased its equity in these prospects by 50%.

09/14/2016

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