Orcadian Energy has received a 1-year extension from the North Sea Transition Authority (NSTA) for license P2244, which contains Pilot field, the largest oilfield in the company’s portfolio, the company said in a release Nov. 15. The extension has been approved until end-November 2023 from end-November 2022.
The extension gives Orcadian time to work toward a potential development decision on the field in 2023, which has audited proven and probable reserves of 79 million bbl, in Eocene Tay sands, based upon a low salinity polymer flood.
Pilot has been appraised with five wells and two sidetracks and is development ready, according to the company website. Orcadian’s proposed field development plan is based upon a floating production storage and offloading vessel (FPSO), with over 30 wells to be drilled by a jack-up rig through a pair of well head platforms and provision of power from a floating wind turbine.