Siccar Point Energy Ltd. has been granted a 2-year license extension for Cambo oil and gas field, West of Shetlands in the UK Continental Shelf, by the North Sea Transition Authority (NSTA), formerly the Oil and Gas Authority. The license was due to expire Mar. 31.
Discovered in 2002, Cambo is on the Corona Ridge structural feature 30 km southwest of Rosebank oil field and 50 km north of Schiehallion oil field. Siccar Point describes it as a large basement high with sedimentary sequences draped over the top of the structure (OGJ Online, Nov. 8, 2019). The main reservoir is the Tertiary Hildasay sandstone of fluvial-deltaic origin with very good reservoir qualities, according to the company website.
The Cambo area also has material upside potential with areas of undrilled Hildasay reservoir, good potential for Colsay reservoir at the edges of the structure, and a fractured basement prospect underlying the existing discovery, according to the company.
Water depth in the development area is 1,050-1,100 m. Shuttle tankers will carry oil away from the FPSO. Gas will move via a 70 km pipeline in 190-1,085 m of water to a connection with the West of Shetland Pipeline southeast of the field.
Production life is estimated at 25 years and the field is expected to deliver 170 MMbbl oil and 53 bcf of natural gas.
Siccar Point is operator with 70% interest. Shell UK Ltd. holds the remaining 30%. In December 2021, Shell declined to progress its investment in the field (OGJ Online, Dec. 3, 2021).
