Iona looking to progress Orlando subsea development

Iona Energy has engaged GE Oil & Gas for the construction of two production subsea trees, one for the Orlando project in the UK northern North Sea and another for potential use on Orlando or another development.

Offshore staff

CALGARY, Canada – Iona Energy has engaged GE Oil & Gas for the construction of two production subsea trees, one for the Orlando project in the UK northern North Sea and another for potential use on Orlando or another development.

Orlando was discovered in 1989 in block 3/3b, 10 km from the CNR-operated Ninian oil production platform. Orlando is a three-way fault closed structure, 2.5 km (1.55 mi) long by 0.5 km (0.3 mi) wide. The 3/3-11 discovery well flowed 2,850 b/d of 32° API crude on a limited exploration test from the oil-bearing Upper Jurassic Tarbert and Ness sandstone reservoirs.

The semisub Wilhunter has been contracted for an appraisal well on Orlando, which will likely take 35 days to drill. A further four to five days will be needed to perform an extensive downhole fluid sampling program, evaluate the well bore, and suspend the well for later re-entry and completion as a production well in a development.

In the same area, Fairfield Cedrus has signed a letter of intent to sell its 100% interest in block 3/8d to Iona, which contains the Staffa oil field.

The transaction is subject to a sales and purchase agreement and to UK government approval.

Staffa is roughly 14 km (8.7 mi) south-east of the producing Ninian Central platform.

10/14/2011

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