Deltic Energy kicks off seismic survey over North Sea licences
The acquisition of 3D seismic data over Deltic Energy’s licence P2428 (Cupertion Area) and the surrounding areas has begun in the Southern North Sea.
Under the contract, ION Geophysical mobilised the seismic vessel to the site with survey commencement expected on 11 September 2021, Deltic Energy informed.
The acquisition includes approximately 700km2 of 3D seismic data focused on the Plymouth Zechstein Reef Prospect and is expected to be completed in six to seven weeks.
The processed data is due to be delivered in mid-2022.
Last month, Deltic Energy entered into a binding, conditional farm-out agreement concerning five of its Southern North Sea gas licences with Cairn Energy.
Under the terms of the agreement, Cairn will fund 100% of an agreed work programme for each of the five licenses up to the point of making a drill or drop decision on each licence, which includes the acquisition of 3D seismic data over P2428.
Following completion of the farm-out, Deltic will hold a 40% non-operated interest in licence P2428.
“To be acquiring new 3D seismic so quickly after announcing our transformational farm-out with Cairn is another very positive development which will accelerate the development of our technical understanding of the opportunities on this licence”, said Graham Swindells, chief executive of Deltic Energy.
“The survey represents another important milestone for Deltic and we are delighted to be participating in our first field operations with our new partner. The acquisition of high quality modern 3D seismic over the licence area is a key step in de-risking future exploration drilling on this licence”.