I3 Energy (I3E) has announced plans to submit a revised and enlarged field development plan (FDP) to the Oil And Gas Authority (OGA) by the end of 2018.
The company’s UK North Sea assets hold 237 million barrels of oil according to an audited mid case STOIIP (stock tank oil-initially-in-place) done by AGR Tracs International. I3 Energy’s own estimates project 314 million barrels.
The previously submitted FDP saw a two-well development which focused solely on the development of Liberator field area reserves located within Block 13/23d.
However in May 2018 the Block 13/23c was awarded to the company in the UK's 30th Offshore Licensing Round, and the new FDP will now grow to include the material western extension of the field into Block 13/23c.
The two blocks may provide an opportunity for future tie-in potential with existing and future liberator development infrastructure, initially producing from two wells target rates of up to 20,000 barrels of oil per day.
"We are very pleased with the progress we are making to maximise the on-block resources in Blocks 13/23c and 13/23d and look forward to a very busy period as we move Liberator towards production and exploit the significant upside potential of our acreage," said Chief Executive Officer Majid Shafiq.
The company also released a new corporate presentation via the Company's website here
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