Talks progressing on North Sea Serenity drilling campaign

Offshore staff

LONDON – i3 Energy has agreed on terms with potential farm-in partners for an appraisal drilling program on the Serenity oil field in the UK central North Sea.

The company is now waiting for confirmation of funding commitments from counter-parties, which it anticipates before year-end, before executing documentation.

Serenity, situated between the producing Captain field to the west and the undeveloped Tain to the east, was discovered in November 2019 in the north of block 13/23c.

Well 13/23c-10 encountered a 20-ft (6-m) thick oil-bearing sand at the top of the lower Cretaceous Captain sequence, with good reservoir quality and an API of 31.5°, similar to Tain and Blake.

i3 estimated 197 MMbbl oil in place, and contracted Dolphin Drilling for at least two appraisal wells. However, this program was suspended last year following the oil price collapse.

10/26/2021