Siccar Point secures strategic acreage position in 30th licensing round
Siccar Point Energy has secured additional strategic acreage in the Oil & Gas Authority’s 30th licensing round for the UK Continental Shelf (UKCS).
In a 50:50 partnership with Shell, Siccar Point will operate the exploration and appraisal phases of the license which adds to their already extensive acreage position in the Greater Cambo Area in the West of Shetland.
The license lies between the Cambo field and the Suilven field 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.
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 licenses 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.
Cambo is a large basement high with sedimentary sequences draped over the top of the structure. The field contains at least 600 million barrels of oil in place. The Suilven field is 20 km northwest of Schiehallion and 30 km south of Cambo. Siccar Point acquired a 75% operated interest in the Suilven field as part of its acquisition of OMV (UK) last year.
