Parkmead Group PLC has been offered four offshore blocks and part blocks spanning three new licenses in the UK 32nd Licensing Round awards. On Sept. 3, the Oil and Gas Authority (OGA) announced preliminary results of the UK 32nd Licensing Round. OGA offered for award 113 license areas over 259 blocks or partial blocks to 65 companies in the UK's 32nd Offshore Licensing Round, launched July 11, 2019 (OGJ Online, Sept 3, 2020).
The first of Parkland’s provisional license awards covers Blocks 14/20g and 15/16g (Parkmead 50%, operator) in the central North Sea, adjacent to Parkmead's Greater Perth Area. These blocks contain two undeveloped oil discoveries, Fynn Beauly and Fynn Andrew, as well as an oil prospect in the Piper formation.
Fynn Beauly is a large heavy oil discovery, updip from Lowlander oil field (Parkmead 100%). The entire discovery extends across several blocks and is estimated to contain oil-in-place between 602 and 1,343 million bbl. Blocks 14/20g and 15/16g contain a section of the discovery to the south, with oil-in-place of between 77 and 202 million bbl. The second discovery, Fynn Andrew, is wholly contained on the offered blocks and holds 50 million bbl oil-in-place on a P50 basis. The addition of these blocks to Parkmead's portfolio would add 34.4 million bbl 2C resources to the group.
The proposed work program includes seismic reprocessing and technical studies. Parkmead's partner on the offered blocks is Pharis Energy (50%).
Two further licenses have been offered to Parkmead as part of the 32nd Round. Block 14/20c (Parkmead 100%) in the central North Sea contains extensions to Lowlander oil field and the Fynn Beauly oil discovery. Block 42/28g (Parkmead 100%) lies in the Southern North Sea near the Tolmount gas discovery.
In other awards, Chrysaor won a total of 14 licenses, nine as operator and five as nonoperator.