Enegi, the independent oil and gas company, has provided an update on Block 22/12b in the Central North Sea, which contains the Phoenix Discovery (the Phoenix Field).
Seismic and well data
Strike Oil Limited (Strike) has obtained 3D seismic and well data and has performed detailed subsurface analysis of both the Phoenix Field and exploration prospects within the licence area. The results to date are encouraging, as seismic and local well studies are able to resolve and prove the presence of oil bearing Forties reservoir around the previously drilled 22/12a-10 exploration well. This means the target has effectively been de-risked, with minimum case reserves being identified within a four-way dip-closed depth structure. Efforts are now focused on resolving the volume of oil contained by the stratigraphic closure in the surrounding area.
Self-Installing Floating Tower
Based on the results of the subsurface studies, Enegi undertook an assessment of the suitability of developing the Phoenix Field with either a Self-Installing Floating Tower (SIFT) or a Production Buoy, concluding that that the SIFT solution is able to provide the most appropriate technical and economic development solution for the field. The development scenarios being considered include the number of production wells and possible requirements for water injection, the environmental conditions at the location of the field, the hydrocarbon characteristics and resulting topside facilities required to handle the production.
Phoenix Field development studies
The engineering work being completed for the Fyne Field will also provide a significant benefit in advancing the Phoenix Field development studies. The company expects that the process engineering can be adapted and, as the water depth is similar, the SIFT structural design can be re-used to reduce the time and cost of engineering work, leveraging prior investment in the solution. Further subsurface work will be completed over the coming months and is focused on determining that there is sufficient proven oil in place to justify the next stage of investment that may include the preparation of a Field Development Plan. The company believes that the work completed to date warrants this further investment and, based on analysis to date, that the Phoenix Field has strong potential to be a technically and economically viable project.
Alan Minty, CEO of Enegi, commented: “We applied for licenses in the 27th Round in order to build a portfolio of marginal field development options that we could take forward in ABTOG. Block 22/12b, containing the Phoenix Field, had significant potential and the results, at this stage, are highly encouraging. We look forward to progressing work on the Phoenix Field along with our continued work on the Fyne Field and on the North Celtic Sea fields. We also hope to add to ABTOG’s portfolio through the 28th Licensing Round where we have applied for licences on a number of undeveloped discoveries and in addition, via other commercial transactions being considered.”
Adapted from press release by Katie Woodward
Read the article online at: https://www.oilfieldtechnology.com/exploration/04072014/enegi_update_on_north_sea_prospect_980/