Stratic Energy Corporation announced that Field Development Program approval has been received from the UK Government's Department for Business, Enterprise and Regulatory Reform for the development of the West Don oil field in the UK North Sea.
Stratic has a 17.25% interest in the West Don field, which extends into the Company's block 211/13b in the UK Northern North Sea. The field operator is Petrofac Energy Developments Ltd.
The West Don field is due to commence production in the second quarter of 2009, with initial peak production rates of 25,000 bopd (4,300 net to Stratic) expected.
West Don will be developed together with the nearby Don Southwest field using the floating production vessel "Northern Producer." Development drilling is expected to commence with the semi submersible drilling unit "John Shaw" in July 2008 and be completed in the first quarter 2009. The two West Don production wells are planned to be the first wells to be drilled in the sequence. Production offtake will initially be by offshore tanker loading, with permanent pipeline offtake completed later in 2009.
"Approval of the West Don development plan is a major milestone for Stratic on the path to substantial production and cash flow growth expected over the 2009/2010 period from our portfolio of five development projects," commented Stratic's Chief Executive, Kevin Watts.
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