By OGJ editors
HOUSTON, Oct. 30 -- Grove Energy Ltd., Vancouver, BC, has been awarded the Horizon West (P8a) Production License covering 26.17 sq km in the Dutch North Sea.
The 15-year license contains Horizon West oil field, discovered in 1982 by Mobil in 33 m of water. The field is believed to contain 50-70 million stock-tank bbl of oil initially in place. Historical data suggest 8-12% may be recoverable. An independent reserve report is being prepared, Grove said.
The field's reservoir is Lower Cretaceous Vlieland sandstone at a depth of 1,800 m subsea. Three vertical wells were drilled on the structure and tested at rates up to 900 b/d of 38.4° gravity oil.
Field development will be managed by Chevron Corp. from its P9 Horizon Platform, 6 km to the east. It will involve an extended-reach well. Grove is arranging financing for the work.
An agreement with Chevron for a joint development and operating plan, including processing and transport tariffs, is in progress.
Interests in the license are Grove 48%, the Dutch State via EBN 32%, Chevron 16%, and Dutch State Mining 4%.