i3 Energy Bullish on Serenity Prospect

Laxman Pai
Friday, December 14, 2018

UK-based oil and gas exploration firm i3 Energy PLC said its Serenity prospect in the North Sea "provides significant organic growth" for its Liberator development.

The company estimates that Serenity contains P50 stock tank oil-initially-in-place of 197mln stock tank barrels.

The North Sea-focused oil and gas company said Serenity is an amplitude supported feature that has an areal extent of circa 10 km2  and is interpreted to be the westerly extension into Block 13/23c of the Tain discovery.

The Tain discovery well, drilled in September 2005, encountered 32° API oil in Captain and Coracle sands and was subsequently appraised by three wells, it said in a press release.

i3 estimates Serenity to have a P50 STOIIP of 197 MMstb, bringing the total potential un-risked Mid case STOIIP within i3 Energy's licenced areas containing the Greater Liberator development and the Serenity prospect to greater than 500 MMstb.

Serenity provides i3 with exposure to low cost and potentially high return upside that could be tied in to either its Liberator Phase I or incremental Phase II infrastructure.

Majid Shafiq, i3's CEO, said: "The Serenity prospect provides significant organic growth potential to i3 beyond our plans for the Liberator development and demonstrates the quality of the licence we acquired in the 30th Round."

Categories: Offshore Offshore Energy Europe Production

Related Stories

Tender-Assist Rigs: Southeast Asia’s Quiet Workhorses Head for Full Utilization

TotalEnergies Inks 15-Year LNG Supply Deal with China's Jiangsu Guoxin

Valaris Secures $600M in New Contracts as Backlog Rises to $4.8B

Big Oil Pockets Near-Record Profits but Spending Restraint Signals Long-Term Doubts

TotalEnergies to Take Operatorship of Two Major Gas Fields off Malaysia

Seatrium Inks $390M Deal to Complete Four Offshore Rigs for Keppel’s Rigco

Oil Caught Between Trump's Russia Supply Push and Middle East Risks

Oil Stabilizes as IEA Moves to Speed Up Emergency Stock Releases

Iran Set to Keep Hormuz Shut Until Seven Demands Are Met

Höegh Evi, PETROS to Develop Kuching LNG Terminal in Malaysia

Current News

CNOOC Makes Ultra-Deep Gas Discovery in China's Bohai Sea

First Oil Flows from Vietsovpetro's Platform Offshore Vietnam

Iran Brings South Pars Gas Platform Fire Under Control

Oil Prices Slide as Trump Signals Pause in Iran Strikes

Murphy Oil Secures Six Offshore Israel Licenses Near Leviathan Gas Field

VAALCO Advances Côte d'Ivoire Offshore Exploration Ahead of 2028 Drilling

Aramco’s Building in Riyadh Damaged by Houthi Attack

ADES Lands $117M ONGC Drilling Contracts for Two Jack-Ups

Velesto’s Jack-Up Rig Up for Drilling Job with Petronas

Tender-Assist Rigs: Southeast Asia’s Quiet Workhorses Head for Full Utilization

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com