Ansila starts development planning for UK gas fields
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Ansila has kicked off work aimed at delivering a preliminary field development plan for its Phase I assets in the Southern North Sea offshore UK.
The multiple workstreams cover the Victoria and Viking Wx fields that host 217 billion cubic feet (Bcf) of audited 2C contingent resources.
Ansila Energy (ASX:ANA) has also started to progress the subsurface analysis of the Phase II assets, which host a further 139Bcf of 2C contingent resources within the Audrey NW and Tethys North fields.
The company recently completed the acquisition of Hartshead Resources – the owner of the four fields that are located within five contiguous blocks in the Southern Gas Basin.
Most of the Southern Gas Basin assets were previously held by supermajors ConocoPhillips and BP, which profited from them for many years before pulling out and leaving smaller pools of gas that can be aggregated into a commercial redevelopment.
In the near term, the company expects to award key contracts to oil and gas service companies for field development planning on the Phase I development.
These will cover areas such as subsurface analysis leading to history matched reservoir stimulation model, final development well placement and production forecasts; well design; process and facilities engineering; and development concept screening and selection.
Other work to be carried out by Ansila include finalisation of the preliminary field development project plan and schedule, carrying out initial discussions with third party infrastructure owners for gas transport and recovery of existing 3D seismic data on the Phase II development area.
The company will also develop safety and environmental management systems along with implementing new financial, procurement and contract procedures.
This article was developed in collaboration with Ansila Energy, a Stockhead advertiser at the time of publishing.
This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.