Oil major Shell and its partner Deltic Energy have approved the work program and budget for drilling the Pensacola appraisal well in late 2024.
The Pensacola discovery, located in the UK North Sea, is estimated to contain gross P50 initially in place volumes of gas and oil of 342 million barrels of oil equivalent, which is nearly double than initially expected.
The approval of Pensacola appraisal was shared by Deltic, which holds 30% of the working interest in the license that is operated by Shell with the remaining 70%.
According to Deltic, the joint venture has now finalized the positive well investment decision on Licence P2252 and approved the 2024 work program and budget for the drilling of Pensacola appraisal well, slated for late 2024.
As for other developments in the Southern North Sea, Shell U.K., the operator of license P2437, has informed Deltic that the geotechnical site investigation works on the preferred surface location of the Selene exploration well has been successfully completed and the vessel has been de-mobilized from site.
“The results of this work will be incorporated into the operational drilling plan. The well remains on track to be drilled in Q3 of 2024,” Deltic said in a statement.
To remind, Shell hit gas at the Pensacola prospect in January 2023, using the Noble Resilient jack-up drilling rig.