Siccar Point Energy will sell to Dyas UK Limited its 26% equity interest in three production contract licenses covering the Jackdaw discovery in the central UK North Sea.
While Jackdaw operator Shell has conducted excellent work progressing the opportunity, Siccar Point is selling its interest to focus on its “exciting program” of exploration, appraisal and development activity in its West of Shetland portfolio, said Jonathan Roger, CEO of Aberdeen-based exploration and production firm Siccar Point, in a 6 November press statement.
The 2005 Jackdaw discovery hit 17,250psi reservoir pressure and temperatures at 385°F (196°C) at its base (OE: August 2014). Operator BG Group, now part of Shell, had to qualify new equipment to carry out a 2012 drill stem test on the field.
Dyas, a non-operating partner and investor in oil and gas assets, is seeking to invest in material upstream programs managed by experienced operators, said Robert Baurdoux, CEO of Dyas. “With our Catcher and Mariner developments nearing first production, Jackdaw will provide Dyas with the opportunity to join Shell in developing this exciting gas‐condensate field and bringing more UK gas into our portfolio.”
Jackdaw is a high-pressure, high-temperature discovery made in 2005 by BG Group, now a part of Shell. The licenses being sold are P.098 (Block 30/2a), P.111 (Block 30/3a lower), and P.672 (30.2d all). Jackdaw is located 250km east of Aberdeen and 10km northeast of Siccar Point’s Jade field. The operator, Shell, has been reassessing Jackdaw. A full field development of Jackdaw would be expected to produce more than 100 MMboe, according to Siccar Point.
Siccar Point announced late last month that it would move forward with plans to develop the Cambo field 125km northwest of Shetland in the UK North Sea.
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