Parkmead awarded oil-prone North Sea license

Dec. 2, 2021
Parkmead has secured operatorship of license P.2516 in the UK central North Sea.

Offshore staff

ABERDEEN, UKParkmead has secured operatorship of license P.2516 in the UK central North Sea, containing the undeveloped oil discoveries Fynn Beauly and Fynn Andrew and another prospect in the Piper formation.

The concession, covering blocks 14/20g and 15/16g, is adjacent to the company’s Greater Perth Area project.

Fynn Beauly, which extends across various blocks, is thought to hold in-place resources in the range 602-1,343 MMbbl. Parkmead’s new license contains containing a segment of the discovery to the south (77-202 MMbbl).

Fynn Andrew, wholly contained within the license, has 50 MMbbl in-place on a P50 basis. Orcadian Energy is the other partner.

In addition, Parkmead and its partners have gained an extension to the Skerryvore license, P.2400, having completed reprocessing of the 3D seismic. Further technical studies are planned ahead of a drilling decision in 2022.

Close to Skerryvore Harbour Energy is drilling the adjacent Talbot prospect while Shell is looking to drill the Edinburgh prospect. Also nearby, ConocoPhillips is developing Tommeliten A in Norwegian waters while NEO Energy has plans for Affleck.

Following Dana Petroleum’s withdrawal from the Platypus license, in the UK southern gas basin, Parkmead agreed in principle to become temporary acting operator. But despite submitting a plan for a development to the UK authorities, the partners could not obtain suitable terms and have dropped the project for the time being.