i3 starts development planning for Liberator in North Sea

Offshore staff

EASTLEIGH, UK – i3 Energy has acquired a 100% operated interest in the Liberator oil field in block 13/23d in the UK central North Sea.

Liberator is close to the producing Blake field, 2 km (1.2 mi) from its drill center.

The field was discovered in 2013 via an exploration well that penetrated lower Cretaceous Captain Sands of similar quality to Blake.

This encountered a 1.5-2.5 Darcy reservoir with 28% porosity containing 30.3° API oil with 1.9 cP viscosity, and a potential 24-80-ft (7.3-24-m) oil column within an elongated four-way structure at a depth of around 5,250 ft (1,600 m) TVDSS.

i3 Energy is assembling a field development plan based on the reservoir, oil fluid properties, and production history of the analogous Blake field. This is undergoing evaluation by independent consultants as part of the company’s plan to seek a public listing on the UK’s Alternative Investment Market (AIM).

CEO Neill Carson said: “We…will work with each of our stakeholders on driving towards first oil safely and as quickly as possible. i3 has engaged Gaffney, Cline & Associates, an independent reserve auditor, to evaluate Liberator as part of our go-public efforts.

“In parallel, i3’s development team is engaged with the supply chain on staging potential operations within the 2017 timeframe.”

The company is looking to broaden its offshore portfolio, he added.

01/16/2017

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