Siccar Point Energy has secured additional strategic acreage in the Oil & Gas Authority’s 30th Licensing Round for the UK Continental Shelf.
In a 50:50 partnership with Shell, Siccar Point will operate the exploration and appraisal phases of the licence which adds to its acreage position in the Greater Cambo Area in the West of Shetland.
According to Siccar Point, the license lies between its Cambo and Suilven fields “and is ideally suited to provide satellite tie-in development opportunities to the Cambo field development.”
It includes the Tornado gas discovery as well as multiple exploration prospects, Siccar said.
Cambo is a large basement high with sedimentary sequences draped over the top of the structure. The field, according to Siccar, contains at least 600 million barrels of oil in place. The Suilven field is 20km north-west of Schiehallion and 30km south of Cambo.
Jonathan Roger, CEO of Siccar Point said: “The latest award in the 30th licensing round further enhances our growing portfolio and underlines our ambitions to take an active role in developing the West of Shetland area. Our partnership with Shell strengthens the expertise we are bringing to realizing the potential of this exciting basin.”
Siccar Point is drilling a final appraisal well on Cambo, with results expected this summer. Shell recently acquired a 30% non-operated working interest from Siccar Point in UKCS licences P1208 and P1189, incorporating the Cambo discovery and a 22.5% non-operated working interest in P1830, including the Blackrock prospect which will be drilled in 2019.
As part of the licensing round, Siccar has been awarded the following blocks: 204/8, 204/9c, 204/10c, 204/13, 204/14d & 204/15 Siccar Point Energy (operator) 50:50 equity with Shell, and 204/5c Siccar Point Energy 100% equity