Parkmead strengthens case for new North Sea oil hub

Offshore staff

ABERDEEN, UKParkmead has increased its equity in the Perth and Dolphin oil fields in the UK central North Sea to 60.05%.

The two fields span blocks 15/21a, b, c, and f and 14/25a in the Moray Firth area over licenses P.218, P.588, and P.2154.

Parkmead plans a development known as the Perth-Dolphin-Lowlander oil hub project.

Perth and Dolphin are Upper Jurassic Claymore sandstone accumulations that have tested 32-38° API oil at production rates of up to 6,000 b/d per well.

Parkmead is considering a joint development also incorporating the Lowlander oil discovery, which it claims could recover more than 80 MMbbl out of more than 400 MMbbl in place.

In addition, the company may look to tie in the Polecat and Marten fields: last month Parkmead increased its equity in these prospects by 50%.

09/14/2016

Share your news with Offshore at news@offshore-mag.com

Did You Like this Article? Get All the Energy Industry News Delivered to Your Inbox

Subscribe to an email newsletter today at no cost and receive the latest news and information.

 Subscribe Now

Whitepapers

The Time is Right for Optimum Reliability: Capital-Intensive Industries and Asset Performance Management

Imagine a plant that is no longer at risk of a random shutdown. Imagine not worrying about losing...

Going Digital: The New Normal in Oil & Gas

In this whitepaper you will learn how Keystone Engineering, ONGC, and Saipem are using software t...

Maximizing Operational Excellence

In a recent survey conducted by PennEnergy Research, 70% of surveyed energy industry professional...

Leveraging the Power of Information in the Energy Industry

Information Governance is about more than compliance. It’s about using your information to drive ...