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    Repsol Sinopec Targets Additional North Sea Output

Summary

The Spanish/Chinese joint venture hopes to reap an extra 10bn boe from the UK fields.

by: Tim Gosling

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Repsol Sinopec Targets Additional North Sea Output

Respsol Sinopec Resources UK (RSRUK) announced April 19 that it plans to recover an additional oil and gas from its assets in the North Sea.

The joint venture between Spain’s Repsol and Chinese giant Sinopec hopes to reap an additional 10mn boe from the UK fields.

“Work has begun on projects across a number of sites in the Repsol Sinopec portfolio that should realise in the region of an additional 10m boe, beginning later this year,” a company statement reads.

Activity is already under way to reinstate production from the Galley subsea tieback to the Tartan platform. Galley production was halted in 2012 following a subsea pipeline failure, but a relaunch that aims to reap 1.1mn boe is now scheduled for July.

In the same Flotta catchment area, the reactivation of the drilling package on Claymore is nearing completion, RSRUK said. The company hopes an additional 4.7mn boe will be produced, with the potential for infill drilling to follow. A similar schedule for Piper Bravo could allow an additional 4.2mn boe, with production targeted to start in Q3 2020.

Repsol Sinopec also continues to work with RockRose Energy on the development of the Tain field. An extension of the Bleo Holm area, tain is held 50/50 with RockRose. A field development plan is due by the end of 2019, with a final investment decision to follow shortly afterwards. 

Other projects to reap smaller production additions are also underway, according to RSRUK COO Nicolas Foucart.

“We are focusing on a number of smaller, incremental production-adding opportunities like these across our portfolio, that can play an important role in helping us to build a sustainable future for the business and that also support the objective of Maximising Economic Recovery (MER) from the UKCS,” he said.

Meanwhile, decommissioning work on a number of assets that have ceased production continues, the statement adds, including at the Montrose platform and Fulmar Advanced Drilling platform.

RSRUK was formed when Repsol bought the former Talisman Energy’s assets, including its 51% interest in the Talisman Sinopec Energy UK joint venture with Chinese giant Sinopec in 2015.