Corallian Energy Limited, the operator for a joint project to drill the Wick and Colter wells, has announced that the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) has completed its review of the Environmental Statements and advised the Oil and Gas Authority (OGA) of its in-principle agreement to issue the remaining consents for each well.
There do remain several regulatory approvals the group needs to obtain for the wells’ consenting process to be completed. When the necessary approvals are attained, the wells will be drilled in a back-to-back programme using the Ensco-72 jack-up rig.
Drilling is expected to begin in December 2018 with an exploration well in the Wick well, located off the Caithness. The well is estimated to hold Mean Prospective Resources of 26 million barrels of oil equivalent.
Once drilling has concluded at the Wick well, the rig will be immediately moved to the south coast of England where drilling can begin on the Colter well, which is thought to have estimated Mean Prospective Resources of 23 million barrels of oil equivalent.
The Colter well is adjacent to the Wytch Farm oil field, Europe’s largest onshore oil field, which is considered a highly significant discovery has over 450mmbbls have been produced there.
The joint drilling venture includes Reabold Resources , the largest interest holder with 32.9% in Corallian, 40% in the Wick well, and 49% in Colter; United Oil & Gas holding 10% interest in the Colter well; Andalas Energy and Power maintains an 8% interest in Colter.
Upland Resources is also a member of the venture, having signed a conditional agreement with Corallian to farm in to a 40% interest in a license containing the Wick prospect.
