CALGARY, Canada – Sterling Resources has transferred operatorship of two UK central North Sea licenses to Shell UK following a farm-in deal.
Block 22/26c includes theBeverley oil prospect while block 21/30f contains the Evelyn and Belinda oil discoveries.
The partners are preparing to drill a commitment well next year, either on Beverley or on Evelyn. Shell will largely carry Sterling’s share of the well costs.
In the southern UK gas basin, Sterling has reprocessed 3D seismic over blocks 49/18b and 49/19b, identifying what could be a significant Rotliegendes gas prospect at Niadar, which is near existing offshore infrastructure. The company is looking to farm down its interest in Niadar with a view to drill a commitment well during 2015.
Production from the TAQA-operatedCladhan field development in the UK northern North Sea is expected to start next May. Development drilling recommenced and subsea construction works to tie the wells back to the Tern platform should be completed this fall.
Topsides modification works at Tern is the longest-duration activity. The first compressor train is due to be installed during 1Q 2015. Initial production from Cladhan should reach 17,000 b/d of oil.
In the Dutch North Sea, a 500-sq km (193-sq mi) 3D seismic survey was completed in June over the Sterling-operated F17a and F18 blocks. Processing and interpretation should be finished by mid-2015. The seismic was acquired over oil discoveries and prospects in the Jurassic and Early Cretaceous horizons, in order to improve reservoir understanding and assist in evaluating new prospects and existing development options.
Sterling has secured extensions for the licenses for both blocks through January 2016. Another 3D seismic survey acquired in 2012 over the E03 and F01 blocks is under evaluation and the Dutch regulator has granted a one-year license extension. The partnership must make a drill-or-drop decision by December.