Project Profile
Value: Undisclosed
Location: Offshore Ireland
Area: 1,230 sq km
Potential Reserve: 53 bcf of gas and 71 mmbls of condensate
LO 11/1 contains two large pre-Cretaceous fault block prospects, Midleton and West Midleton. Midleton is the larger of the two prospects, with an areal closure of 61 square kilometres, and has the potential for P50 reserves of 553 bcf of gas and 71 mmbls of condensate. These prospects complement and provide additional diversity to the large Muckish prospect lying in Serica’s acreage just to the north east. Given the size of the prospects and their position in a proven gas-condensate bearing basin, the Licence significantly expands the options open to Serica to deliver an active drilling campaign in the area. Under the terms of the LO 11/1 Licence, Serica will undertake 2D and 3D seismic reprocessing work and other geological studies in the first two years to firm up the prospects following which the company has an option to convert the Licence into a full Exploration Licence. The Licence (LO 11/1) covers Blocks 11/5, 11/10, 11/15, 12/1, 12/6 and 12/11 (part), an area of approximately 1,230 square kilometres in the Rockall Basin.
Operator:
Serica Energy: Operator with 100% interest