UK: Faroe Petroleum joins Perth field group

By OGJ editors
HOUSTON, Jan. 28
– A group led by DEO Petroleum PLC, Aberdeen, is studying development options for Perth oil field, discovered in 1983 in the UK North Sea 185 km northeast of Aberdeen.

Perth, in 130 m of water in Block 15/21c, is 7 km south of the Tartan platform and 11 km northwest of the Scott platform. The Monsanto discovery well, three appraisal wells, and one sidetrack have been completed. Claymore sands flowed at rates of 1,000-6,000 b/d of 29-32° gravity oil with sour associated gas.

Nexen Petroleum UK Ltd. has conditionally sold a 28% interest in the P218 and P588 licenses to Faroe Petroleum PLC and sold Nexen’s remaining interest to existing partners Maersk Oil Ltd. and Atlantic Petroleum UK Ltd., bringing their stakes to 19.13% and 10.79%, respectively. DEO is operator with 42.08%.

Faroe Petroleum said the area has exploratory upside and scope for the tieback of several undeveloped discoveries.

Completion of the sale is subject to consent by the joint venture parties, the waiver of preemption rights, and UK Department of Energy and Climate Change approval.

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