Project Profile
Location: East Shetland Basin in northern North sea
Oil reserves: 30 million barrels of oil equivalent
Relinquishment date: February 2016
The Timon prospect is located in the East Shetland Basin in Northern North Sea. It lies in a proven oil producing area, surrounded by various producing fields and discoveries and is analogous to the recent Cladhan Upper Jurassic Discovery.
The prospect consists of a stratigraphic trap with no connection to feeder channel up-dip. Gross best estimate prospective resources are estimated by Valiant to be 30 million barrels of oil equivalent (net 3 mmboe).
The licenses are UKCS 25th Round awards, with an initial term of four years as from February 2009.
Operators:
Previous Partners:
MPX North Sea: Operator with 15% interest
Agora Oil & Gas: 25% interest
Taqa Bratani: 18% interest
Wintershall E&P: 17% interest
Sorgenia E&P: 15% interest
Valiant Exploration: 10% interest
MOL Group: 17% interest
Zennor Petroleum took over 100% Operatorship in October 2015. Zennor relinquished the blocks in February 2016.
Contractors:
Awilco Drilling PLC: Semi submersible rig
Transocean: Drilling contractor using Transocean John Shaw semi-submersible drilling rig