By OGJ editors
HOUSTON, May 10 -- Paladin Resources PLC subsidiary Paladin Expro Ltd., London, and Energy North Sea Ltd, a Marubeni Corp. subsidiary, received approval to develop Wood oil field in the UK North Sea.
The UK Department of Trade and Industry approved the development plan for the field, which is close to the Montrose, Arbroath, and Arkwright (MonArb) complex.
The estimated field development cost is £80 million. Amoco UK made the discovery in Jurassic Fulmar sandstone in 1996.
The field will produce through a single horizontal well tied back to the Montrose platform 9.5 km away. A compression module also will be installed on the Montrose platform to compress Wood field associated gas.
Plans call for associated gas from the MonArb complex, now flared, eventually to be compressed and sold. Wood field production is expected to start in late 2006.
Operator Paladin Expro has a 58.97% interest in Wood field. Energy North Sea has 41.03%.
The partners have a similar development at Brechin oil field in the same area (OGJ Online, Dec. 29, 2004).
