TORSHAVN, Faroe Islands – Atlantic Petroleum says joint studies continue between the license partners on the feasibility of a joint Perth/Dolphin/Lowlander field development in the UK central North Sea.
The current appraisal phase is expected to be completed by year-end. The various licensees have agreed on the commercial and ownership framework and a heads of agreement for a joint development.
This covers equity alignment (unitization), the budget and management of the joint near-term work program, and plans for securing finance for the project.
Elsewhere in the UK sector, Atlantic plans to participate in exploratory wells on Aurora, a large intra-carboniferous gas prospect in the southern North Sea, near the producingBreagh field; and on Skerrywore in the central North Sea, which is due to be drilled during the second half of 2015.