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.
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