Offshore staff
ABERDEEN, UK – Britain’s Department of Energy and Climate Change has confirmed there are no environmental issues concerning the proposed Perth field development in the central North Sea.
Operator DEO Petroleum submitted a development plan and environmental statement to develop the field in phases. Phase 1 involves use of an FPSO with six wells, comprising four producers and two water injectors.
DEO expects approval for the development in due course. However, due to international demands on the supply chain, access to development equipment is tight, and this may impact the 2014 first oil schedule.
Currently, the company has a 52.03% operated interest in Perth equity, and needs to find about $217 million to fund its share of development costs.
IfParkmead’s proposed acquisition of DEO is approved by both companies’ shareholders, the new team will explore all funding options. However, if the acquisition does not go through, DEO will look to bring in another partner to help progress the Perth development.
New seismic activity has been conducted, with a view to identifying further prospects in the Perth area.
6/7/2012
