Kistos kicks off 2021 Dutch drilling campaign
London-listed investment group Kistos has launched a 2021 drilling campaign at the recently-acquired Q-10A gas field in the Dutch North Sea, the company reported on July 20.
Kistos, which bought a 60% interest in the producing Q-10A field together with several undeveloped discoveries from Tulip Oil in May in a deal worth at least $263mn, said Borr Drilling's Prospector-1 jack-up rig had arrived on site and begun the drilling work. The campaign will take four months, and aims to convert roughly 100mn barrels of oil equivalent of best-estimate contingent resources into proven and probable reserves.
The work will also involve appraising the Q11-B gas discovery, conducting a flow test at the Vlieland light oil find, and other efforts to boost recovery at Q10-A's existing wells. Kistos is targeting end-year production at Q10-A of 2mn m3/day of gas.
"One of the key attractions of the Kistos portfolio is the significant near-term upside potential," Kistos interim CEO Andrew Austin said in a statement on July 20. "We expect that this drilling campaign will start the process of realising that potential and will result in strong organic growth in our reserves and in our production."
The facilities at Q10-A run on wind and solar power, meaning the field has an emissions intensity of only 10 g of CO2/boe, versus a North Sea average of 21 kg/boe.