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2010-03-24 Causeway updated news |
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Wednesday, 24 March 2010 |
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Sagex Petroleum is pleased to support the new operator in his endeavour to bring the UKCS Causeway Field on production in a cost-effective manner accelerating the production start. 
A total of six development wells have been drilled on the Causeway Field close to the Dunlin and Brent fields in the UK northern North Sea. The wells are planned tied back subsea via the Merlin manifold to the Dunlin platform in a two-stage development. The first stage is scheduled to start production of some 7000 barrels oil per day in third quarter 2011. The second stage is to be added one year later, increasing the production to 8000 bopd and extending the life of the field. With the use of cost-effective technology and the small field tax allowance, the economics of the field will be attractive. In a recently announced transaction, Valiant Petroleum is to take over an additional share of 30% and the operatorship from Antrim Energy. The new partnership will comprise Valiant operator and 54.5%, Antrim 35.5% and Sagex 10%.
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Last Updated ( Wednesday, 24 March 2010 )
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