Offshore staff
SOUTH PERTH, Australia — Finder Energy Holdings has received a priority offer from the North Sea Transition Authority for central UK North Sea license P2610 under the UK’s 33rd Offshore Licensing Round.
The concession, within the South Viking Graben, is close to the UK/Norway Median line and multiple producing fields in both sectors, including Gina Krog and Sleipner, both operated by Equinor. It also contains the Boaz gas condensate prospect, thought to hold potential for 748 Bcf of gas and 81 MMbbl of condensate.
Finder submitted its bid under a 50:50 partnership with Equinor, with Finder nominated as license administrator (operator). Equinor is seeking to extend the life of the Sleipner facilities and has been exploring and adding developments around the area, one of the main factors behind its participation in the license application.
Currently Finder is finalizing the process to accept the award of P2610 as an Innovate license, with an initial firm four-year program comprising geotechnical studies in Phase A, followed by a drill or drop decision to enter Phase C for a further two years.
Boaz is defined on PSDM broadband 3D seismic that Finder licensed from PGS. Phase A geotechnical studies would target de-risking of the prospect, with a view to attracting a farm-in partner.
The prospect is an untested Triassic fault block trap with Triassic Skagerrak Formation reservoir sandstones sealed by the overlying Jurassic shales. The 16/8a-10 well, drilled in 1988, tested shallower Jurassic potential within the tilted fault block containing Boaz but reached total depth before testing the deeper Triassic Skagerrak reservoir objective.
The shallower Hugin Formation sand objective was absent within the well, Finder added, and other thin sands were poorly developed.
Phase A geological studies of offset reservoir core material from both the UK and Norway would assess the potential for reservoir quality preservation at depth within the basin, while geophysical and geomechanical studies will support definition of the overburden seal risk.
The overall aim is to de-risk Boaz structure ahead of drilling.
12.21.2023
