Project Profile
Value: US$100 million (estimate)
Costings: US$ 11 million dry-hole cost (estimate) US$3 million seismic (estimated cost)
Location: UK Central North Sea, adjacent to the Fyne Project Area, UK
Reserves: 6MMBO (recoverable in the P50 case)
Depth: c. 89m (water)
Enegi Oil has been offered a production licence on Block 21/28b, in the UK Central North Sea, by the Department of Energy and Climate Change. Block 21/28b contains two known discoveries named Crinan & Dandy, which lie adjacent to the Fyne Project Area in water depths of c. 89m. Crinan (also known as Area 4) is located c. 2km from Fyne, whilst Dandy is located c. 5km from Fyne. Dandy has been appraised, confirming oil presence, whilst both discoveries lie within the Fyne Trend and share the same Tay Formation Sandstone reservoir with Fyne. The company intended to leverage existing knowledge gained through investment in Fyne\'s self-installing floating tower (SIFT) solution to develop these assets. Preliminary work carried out by the company indicates that a combined 6MMBO could be recoverable in the P50 case and could be developed through a tie-in to Fyne. Upon final award Enegi (operator) will hold a 50% working interest in this licence, with partner Antrim Energy (UK) Ltd. holding the remaining 50%.
Carra Prospect
The Carra Prospect (previously the 21/28b-NE Prospect – now “Carra”) is a Middle and Lower Tay sandstone reservoired stratigraphic play. The seismic character is strongly indicative of there being porous sandstones at the location, but there are no unambiguous indications of fluid fill. The Carra Prospect lies on an obvious Tay channel fairway where sands have been identified as being:
a. Thickened and spread over a large area due to the presence of a “paleo-low” which provided accommodation space beyond the overall narrow channel fairway. This “low” appears to have been long lived enough to have trapped sands at a Cromarty-aged target level as well as the shallower Tay levels.
b. Sealed through onlap/truncation of sands to the north by the Fyne Paleo-high and to the west by the discontinuous nature of the channel sands preserved.
Without direct seismic evidence of hydrocarbon presence, the predominant risk at Carra is the stratigraphic closure/shale-out to secure a trap. Reservoir and migration are thought to have a highprobability of occurrence.
Gill Lead
The 21/28b-Gill Lead is a small combined structural and stratigraphic trap mapped along an Upper Tay Sandstone channel in the west of Block 21/28b. The lead does not show any direct hydrocarbon indicator, but the amplitude brightening suggests a thickening of the sand in this “meander-shaped” feature. Antrim does not believe this is an economically drillable target given a P50 recoverable resource of less than 10 MMBO. Oil in this feature would have a high risk of alteration and hence being relatively heavy.
Ree Lead
The 21/28b-Ree Lead is a small four-way closure mapped at the Base Cretaceous Unconformity. There is a high risk of reservoir (Fulmar Sandstone) presence. At less than 10 MMBO recoverable (P50, unrisked), Antrim does not believe this is an economically drillable target.
Due to all these factors the Operator decided to relinquish the licence in 2013.
Operators:
Enegi Oil Plc: Operator with 50% interest
Antrim Energy (UK) Ltd.: 50% interest