Project Profile
Location: P1853, north of the Shetlands
Reserves: 1.7tcf minimum economic volume
Licence award: 10th January 2011
Licence relinquishment: 9th January 2015
The Grouse prospect is situated in UK License P1853, which lies north of the Shetlands. The co-ventures of the license are Faroe Petroleum (37.5%, operator), EON Ruhrgas UK E&P Ltd (37.5%) and Idemitsu Petroleum UK Ltd (25%). Grouse is a large structural and stratigraphic trap, of Upper Eocene age, on the southern flank of the pilot whale anticline. It is defined by a combination of an amplitude anomaly, at both top and base mapped reservoir levels, confined within the Lagavulin structural closure and pinching out both up-dip towards the crest of this structure and to the east towards the Brendan Dome area. In August 2012, Faroe contracted PetroMarker to perform an EM survey over the license, which will be executed with the newly mobilised “Normand Baltic” at the end of June 2013.
E.ON and Faroe chose to relinquish the licence due to the high risk assigned to the Grouse prospect. Neither of the partners was prepared to drill with their large equities. (February, 2015)
Operators:
Faroe Petroleum: Operator with 37.5% interest - (relinquished, January 2015)
EON Ruhrgas UK E&P Ltd: 37.5% interest - (relinquished, January 2015)
Idemitsu Petroleum UK Ltd: 25% interest
Contractors:
PetroMarker: Perform an EM survey