Offshore staff
LONDON – Summit Exploration and Production has farmed out a 50% stake in license P.2382 (block 22/14c) to Dana Petroleum E&P, but will remain operator.
The concession contains the K2 gas prospect, close to established offshore infrastructure. Britain’s Oil and Gas Authority (OGA) has approved the transaction, and the new partners plan to drill K2 as soon as practicable.
Baron Oil will raise its interest in UK North Sea Innovate License P2478 in the Inner Moray Firth from 15% to 32%, subject to approval from the OGA.
Corallian Energy was awarded operatorship of the license in September 2019, in partnership with Upland Resources and Baron. The current-phase work commitments are to re-process legacy 2D and 3D seismic data and perform other studies to refine volumetric estimate.
The license, spanning blocks 12/27c, 17/5, 18/1 and 18/2, includes the prospective shallow-water Dunrobin area comprising large, shallow rotated fault blocks mapped mostly on 3D seismic.
Baron estimates prospective resources at 100 MMbbl, with an anticipated TD for the well of 660 m (2,165 ft).
The company has agreed to cover the full costs of the remaining Phase A work up to a cap of £160,000 ($219,000), to increase its share in the license, and will become technical overseer of the associated commitments.
08/19/2021
