The UK DTI Announces 2nd Release of Fallow Assets
The second release of fallow blocks and fallow discoveries has been launched by the Department of Trade and Industry and its partners in PILOT.
UK LIFT Fallow register has been set up to encourage companies already working in the UKCS as well as new entrants to approach fallow acreage with fresh eyes and come forward with new ideas for exploration, appraisal, and development.
This list of 40 Fallow Blocks and 37 Fallow Discoveries is the second of the releases of assets, which the DTI, following discussions with the Licensees, concluded were not being worked as actively as might be expected.
A further release of the remainder of those assets identified in the first year of implementation of the new Fallow Initiative will be posted in May 2003, with the process continuing on a regular (approximately quarterly) basis as assets are confirmed to be fallow. There has been significant interest in the 39 assets first posted in September 2002.
The fallow process, devised by the PILOT Progressing Partnership Work Group and announced in March 2002, has already had an impact. At the beginning of this year, ninety of the blocks originally identified as having had no drilling in four years are no longer considered fallow. New seismic has been acquired on 28 of the blocks; Field Development plans affect 19 blocks; 6 wells have been drilled; and 33 blocks have been relinquished and made available in the 21st Round.
Likewise of those discoveries identified as having no approved plan for Development within four years, twenty are no longer considered fallow. New seismic has been acquired on 6 of the discoveries; 4 of the discoveries have been included in Field development plans; 4 appraisal wells have been drilled; and 7 blocks with discoveries have been relinquished and made available in the 21st Round.
Continuing the process, the DTI has written to all Licensees of those blocks and discoveries which have become fallow as of January 2003.