UK junior Enegi Oil reported Friday that it has completed the acquisition of 95 square miles of 3D seismic data on the Phoenix block in the UK North Sea.
Enegi will now carry out in-house interpretation, subsurface analysis and reservoir modeling to determine the full range of recoverable reserves for the Phoenix discovery. The firm said that this will incorporate analysis currently being carried out by Azimuth Limited.
Azimuth will also look at the additional exploration potential of the block under a farm-in agreement announced in February, which may lead to further development activity.
Discovered by Royal Dutch Shell in 2004, the Phoenix oil discovery is a low-relief dip closed structure that lies on the Forties-Montrose High, between the Nelson field and the Montrose field in the central North Sea. A review of the Phoenix discovery by Enegi has led to a preliminary estimate of 15 million barrels of oil in place.
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