Orcadian Energy plc has secured more time to gather new 3D seismic data on the Narwhal field on licence P2482, east of Aberdeen in the central North Sea.
HUB
The phase B work on the licence, which also contains the Elke discovery, is now extended until 14 July 2027.
Energy data firm TGS will shoot 100 km2 of new 3D seismic, subject to approval of the development plan for Orcadian’s key asset, the Pilot field on licence P2244, north of P2482.
The extension also allows Orcadian and joint venture partner Ping Petroleum to explore the “optimum area development plan” with regulator the North Sea Transition Authority (NSTA).
“We are delighted to have received this licence extension which maximises the probability of us designing an area development plan which optimises the development of all the viscous oil resources in the Pilot area,” said chief executive Steve Brown.
“We believe that Pilot and Elke can form the basis of a new low-emissions hub for the development of the major resources in this area.”
The company-operated Elke discovery has net 2C resources of 45 million barrels of oil.
Ping-operated Narwhal, currently mapped on 2D seismic only, has net 2C resources of 9 MMbbl.
Orcadian has identified a further 53 MMbbl of prospective resources with a geological chance of success ranging from 64% to 87%, based on TGS analysis.
Orcadian said that Ping was progressing development planning for Pilot and also working with polymer supplier to the oil industry, SNF, and Heriot-Watt University to optimise the polymer flood approach to Pilot.
Orcadian has an 18.75% carried-to-first-oil interest in the Pilot development.
GAS
Creation of a joint venture is also progressing for licence P2680, containing the Earlham and Orwell gas prospects, and potentially the shallow gas prospects in licence P2650, in the southern North Sea.
In December 2024, Orcadian signed a provisional 50% farm-out agreement with The Independent Power Corporation plc (IPC) and The Marine Low Carbon Power Company Ltd (MLCP).
Mr Brown added: “We are also very enthused by the potential to be involved with IPC’s project to deliver reliable electrical power from our gas resources, we really believe that the IPC and MLCP projects can demonstrate that abated gas works and is critical to the success of the UK’s clean power plan.”