Project Profile
Location: Block 44/28b, and Blocks 44/26a and 43/30a, UK sector of the Southern North Sea, 150 kilometres from the Theddlethorpe Gas Terminal, Lincolnshire coast, UK
Discovery: 1984
Water Depth: 50 m
Start-up Year: - 1999
Faroe Petroleum acquired a 60% operated interest in the Ketch Field in the UK Southern North Sea gas basin from Tullow Oil SK Limited, a subsidiary of Tullow Oil plc. The Ketch Field is located in Block 44/28b, and Blocks 44/26a and 43/30a in the UK sector of the Southern North Sea, 150 kilometres from the Theddlethorpe Gas Terminal on the Lincolnshire coast. The Ketch Field was discovered in 1984, with first gas from Ketch in 1999. The field is developed by then-operator Shell, are multi-well developments with ‘normally unmanned’ platforms, currently managed by a third party Duty Holder. Gas is exported via the Caister Murdoch facilities to the Conoco-operated Theddlethorpe Gas Terminal where it is sold into the National Grid. In addition, Faroe has identified several potential areas for investment in the asset, in order to further enhance reserves and value and to extend field life, certain of which are the subject of contingent royalties. The Acquisition is expected to complete before year end and is subject to UK regulatory approval.
Operators:
Faroe Petroleum: Operator with 60% interest
Tullow Oil SK Limited: 40% interest
Contractors:
Petrofac: Contract for the provision of logistics and accommodation services across the facilities (November 2015)