Project Profile
Location: West of Shetland, North Sea
Value: US$400 million (Spirit Energy)
Location: West of Shetland, North Sea
Prospective & Contingent Resources: 2 boe
FID: 2021
The Greater Warwick Area, which neighbours the Greater Lancaster Area, is made up of oil-bearing fractured basement reservoirs, namely the Lincoln and Warwick structures. Hurricane Energy previously drilled an exploration well in the Lincoln area in 2016, proving up resources in the area. The depth of the oil column identified in the Lincoln well 205/26b-12 means that Lincoln and Warwick could be a single continuous accumulation.
Spirit Energy has made a commitment to drill three wells in the licences operated by Hurricane Energy. They will target the Lincoln discovery and the Warwick exploration prospect, which are estimated to hold 604 million boe of 2C contingent resources and 935 million boe of prospective resources respectively.
As licence operator, Hurricane Energy has secured a rig to drill all three wells beginning in Q1 2019. A single horizontal appraisal well will be drilled in Lincoln, with two horizontal exploration wells to be drilled on the adjacent Warwick prospect. Following successful drilling during 2019 and 2020, Spirit will take on the role of GWA licence operator.
The partners will target a tie-in of one of the initial wells to the Aoka Mizu FPSO, and potentially a further three appraisal wells and full field development of the area. The two companies aim to make a final investment decision on the first phase of a standalone full field development in 2021 – several years earlier than initially projected.
Operators:
Hurricane Energy: Operator with 50% interest
Spirit Energy: 50% interest