Energy firm Kistos has informed that Borr Drilling's Prospector-1 jack-up drilling rig has arrived on location at the Q10-A field in the Dutch North Sea, marking the start of the company's 2021 drilling campaign.
Kistos got hold of the Q10-A field after it had in March agreed to buy Tulip Oil's Dutch subsidiary Tulip Oil Netherlands for 220 million euros, plus 163 million euros of contingent payments, and 5 million euros of warrants.
Apart from an operating interest in the Q-10A offshore gas field, the company acquired the Q-10B, Q-11B, and M10/M11 discoveries, and other exploration and appraisal projects in the Dutch North Sea.
Kistos said Tuesday that the work program would last around four months and would begin the process of converting about 100 million barrels of oil equivalent (gross) of 2C resources into 2P reserves.
Planned activities include the appraisal of the Q11-B gas discovery, conducting a flow test of the Vlieland light oil discovery, and other activity designed to enhance production from the existing Q10-A well stock. Kistos expects the Q10-A gas field to exit 2021 with gross production of more than 2.0 MM Nm3/d (71 MMcf/d or 12,700 boe/d).
Andrew Austin, Kistos' Interim CEO, said: "One of the key attractions of the Kistos portfolio is the significant near-term upside potential. We expect that this drilling campaign will start the process of realizing that potential and will result in strong organic growth in our reserves and in our production. We look forward to reporting on the progress of our work program in the coming months."