Project Profile
Estimated value: US$300 million
Location: Faroe-Shetland Trough, West Shetland, North Sea, UK
Reserves: 280 mb of recoverable oil (P50)
Block 205/13 is situated in the Faroe-Shetland Trough in the West of Shetland region of the UK North Sea, to the north east of the Lancaster field. Block 205/13 was originally awarded to Parkmead in July 2015, as part of the UKCS 28th Licensing Round. The primary play fairway developed on this acreage is the Paleocene Vaila Formation which forms the reservoir in the adjacent Foinaven, Schiehallion and Loyal oil fields, and also in the Laggan and Tormore gas discoveries. Two prospects, Sanda North and Sanda South, have been identified in Block 205/13. The Sanda North and Sanda South prospects have the potential to contain 280 million barrels of recoverable oil on a most likely, P50 basis.
Operators:
Parkmead Group: 100% interest