Partner Article

Enegi partners given green light in North Sea

North West oil and gas company, Enegi, has announced that plans in the North Sea will go ahead, after fulfilling the terms of its licence for the Malvolio prospect.

The firm’s Bermuda-based farm-out partner, Azimuth, will carry out a detailed programme of work, using “leading edge techniques”.

Azimuth said it will utilise 3D seismic methods to assess the hydrocarbon potential of the North Sea Block 3/23a area.

Enegi, who owns propects in Newfoundland, Canada, Ireland, Jordan and the North Sea, UK, also hope to determine the area’s suitability for an ABTechnology unmanned bouy system.

Updates are expected this Autumn as the work programme with Azimuth commences, while Enegi continues to explore the potential of developing assets through marginal field development facilities.

Chief executive of Enegi, Alan Minty, commented: “We are delighted with the progress that has been made to date on this project.

“This programme is expected to greatly increase our understanding of this acreage as well as the potential it has.

“We also expect the work to significantly de-risk the Malvolio prospect as well as to enable us to determine the feasibility of developing Malvolio using ABTechnology’s buoy solution. We look forward to providing further updates in due course.”

David Sturt, chief operating officer of Azimuth, added: “Azimuth is very pleased to be progressing this exciting project.

“Azimuth will use its advanced Geology and Geophysics workflow to assist the partnership to simultaneously de-risk the development potential of the Malvolio prospect whilst in addition demonstrating the exploration upside within the whole License area.”

This was posted in Bdaily's Members' News section by Miranda Dobson .