Project Profile
Location: Inner Moray Firth, North Sea, UK
Block: 11/24
Peak Production: 1,900 barrels of oil per day
Exploration start-up: 1986
Production start-up Year: 2012
The Lybster field is situated on Block 11/24 (Licence P.1270) in North Sea, UK. The field in the Inner Moray Firth off northern Scotland, discovered by Premier Oil in 1986 but deemed uncommercial to develop, is being exploited via an extended reach well drilled from an onshore location. Produced oil is being sold to ConocoPhillips at its Immingham refinery. Trap holds a 35% carried interest in the field following its acquisition of Reach Oil & Gas\' assets in 2011. Caithness is entitled to recover all development and operating costs attributable to Trap’s interest out of revenue from the sale of the latter’s share of produced oil. Trap will receive about 20% of net output revenue based on its stake until these costs have been fully recovered.
In 2008, Caithness spudded the L11/24-3z development well on the Lybster field. The well was drilled from an onshore site two kilometres south of the village of Lybster. The Lybster structure is crossed by a north-east/south-west trending fault. The well appraised the area west of this fault and was suspended. In 2010, following evaluation of these results, the well was extended across the fault to twin the discovery well, which had flowed 2,000 barrels of oil per day on test. A horizontal section was drilled through the Beatrice B sandstone reservoir. After completing operations, Caithness released the rig and brought in a coiled tubing unit to perforate and test the well. In August 2011, the well flow tested at rates up to 1,900 barrels of oil per day through a restricted choke. Caithness are now completing plans to truck produced oil to the Nigg Oil Terminal where it will be processed and stored and then sold.
Operators:
IGas: Operator with 65% interest
Trap Oil: 35% carried interest
Off-take companies:
ConocoPhillips