Petrogas North Sea Ltd Abbey and Baker Farm-in
20th October 2022
Petrogas North Sea Ltd
Abbey and Baker Farm-in
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Petrogas E&P LLC is pleased to announce that it has completed, through its subsidiary Petrogas North Sea Ltd, a farm-in to Licences P2582 and P2433 in the UK Southern North Sea held by Cornerstone Resources Group. P2582, located in Block 47/3i, contains the Abbey Gas discovery, and P2433, located in Block 47/3f, has the Baker prospect. Petrogas now has 85% equity in Block 47/3i and 70% equity in Block 47/3f , and is the Operator of both Licences.?
Petrogas will now move forward the Abbey Field development, targeting FID by end 2023.
?Usama al Barwani, Chief Executive Officer of Petrogas E&P LLC commented:
“We are delighted to acquire the Abbey field in the UK, and look forward to working with our partner to develop this field in a timely fashion, bringing vital additional domestic gas to the UK market.”
?Kingsuk Sen, Chief Commercial Officer of Petrogas E&P LLC and VP Europe
“This asset compliments our UK portfolio, building on the success of our recent 22/19a-8 Birgitta appraisal well, as part of Petrogas’ vision to grow our asset base in NW Europe
?Nick Dancer, Director of Petrogas North Sea
“We look forward to developing the Abbey field along with our current development of Birgitta. Similar to the Birgitta Field concept, the development plan for Abbey will minimise emissions associated with production, in line with our strategy to reduce the environmental footprint of our activities.”
?About Petrogas
Petrogas E&P LLC is a privately owned Omani company headquartered in Muscat, Oman. It has production operations in Oman, Egypt and the Netherlands, as well as appraisal / development assets in the UK and Denmark.
NOV | “won't relent until the job is done and done well” | Technology Deployment Expert | Renewable Energy Engineering | President and Chair, The Mining Institute of Scotland(MIS)
2 年Congratulations ????
CEO at GEOLOG & Ignis Energy
2 年Congratulations Usama.
COO Petrogas E&P
2 年Very pleased that Petrogas has another development asset in its portfolio, and a near term gas development opportunity is timely. Now the hard work begins!