UK Releases Third Round of Fallow Assets

The third (and last release of assets identified as Fallow in 2002) has been launched by the Department of Trade and Industry and its partners in PILOT on to the UK LIFT (Licence Information for Trading) website.

UK LIFT Fallow register has been set up to encourage companies to come forward with new ideas for exploration, appraisal and development on assets considered to be Fallow. Potential new entrants as well as existing UKCS companies should approach the named consent on the LIFT site with any plans they might have. Dialogue is also encouraged with other Licensees of the assets to find synergies. The DTI will examine any proposed plans for significant activity, which may remove the asset from the Fallow B category. (For details of the process see the details on the extract from the PILOT Progressing Partnership Work Group Report, published in March 2002.)

This third release comprises 21 Fallow blocks and 10 Fallow discoveries. A summary of the exercise to date reveals that of the 132 blocks identified as Fallow B in July last year, 3 have become Not Fallow as Field Development Plans have been approved on those blocks, and wells have been drilled on 7 blocks. A number of blocks (22) have been relinquished. Some new seismic or reprocessing has been undertaken, on about 30 blocks, enabling a reclassification to Fallow A. However, over half the blocks remain Fallow B and will now be on LIFT.

For the discoveries, of 104 classed as Fallow B in May 2002, Field Developments have been approved for four of them. Wells have been drilled to appraise a further five and several have been relinquished. Where seismic reprocessing has been undertaken, the assets have generally been reclassified to Fallow A. 70 remain as Fallow B and will now be on LIFT. There has been success for some assets that were posted on LIFT previously, but the deals are commercial. Anyone interested in a particular asset should initially approach the named contact on the LIFT site (normally the Operator), but may also approach partners to see if they are interested in a plan for significant activity, which can then be put to the DTI.

The process is now in it's second year. The next release of assets on to LIFT will comprise assets newly identified in January 2003 which are considered to have insufficient activity. The release is anticipated in Q3 2003.

Fallow Blocks for May 30, 2003 LIFT
110/14 REST License P.099 Operator: Burlington Resources
13/16a NONE License P.185 Operator: CNR
13/22b NONE License P.635 Operator: Talisman
16/13a NONE License P.219 Operator: Royal Dutch Shell
16/18a NONE License P.312 Operator: ENI
205/26a NONE License P.164 Operator: Amerada Hess
21/23a NONE License P.021 Operator: Petro-Canada
21/23b NONE License P.353 Operator: Royal Dutch Shell
21/29b NORTH License P.215 Operator: Royal Dutch Shell
210/19a NONE License P.211 Operator: Royal Dutch Shell
22/3a NONE License P.059 Operator: ChevronTexaco
22/4a ARMA License P.059 Operator: ConocoPhillips
22/8a NONE License P.096 Operator: Royal Dutch Shell
3/11a NONE License P.472 Operator: Amerada Hess
30/1a NONE License P.057 Operator: BP
30/1e NONE License P.363 Operator: BP
47/10 REST License P.001 Operator: BP
47/20 NONE License P.898 Operator: ConocoPhillips
48/23a NONE License P.467 Operator: Tullow
48/24a NONE License P.007 Operator: Royal Dutch Shell
9/27a NONE License P.472 Operator: Amerada Hess

Fallow Discoveries for May 30, 2003 LIFT Release
15/21a-46 License P.218 Operator: Amerada Hell
205/26a-3 License P.164 Operator: Amerada Hess
21/20a-5 License P.185 Operator: Royal Dutch Shell
21/23b-1 License P.353 Operator: Royal Dutch Shell
211/22-a License P.201 Operator: ENI
211/22a-3 License P.201 Operator: ENI
22/19-1 License P.357 Operator: BP
48/14-2 License P.008 Operator: Royal Dutch Shell
49/28-14 License P.037 Operator: ExxonMobil
49/29b-5 License P.105 Operator: ExxonMobil

Our Privacy Pledge

Most Popular Articles
Related Articles

Brent Crude Oil : $51.38/BBL 2.44%
Light Crude Oil : $50.43/BBL 2.26%
Natural Gas : $3.14/MMBtu 0.94%
Updated in last 24 hours