Avalon is a conventional oil development located in shallow water in the UK and is operated by Ping Petroleum UK. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Avalon was discovered in 2014, lies in block 21/6b ALL, with water depth of around 389 feet. Buy the profile here.
The project is currently in feed stage and is expected to start commercial production in 2025. Final investment decision (FID) of the project will be approved in 2023. The Avalon conventional oil development will involve the drilling of approximately one wells and includes subsea tree.
Field participation details
The field is owned by Dagang NeXchange and Ping Petroleum Sdn.
Production from Avalon
Production from the Avalon conventional oil development project is expected to begin in 2025 and is forecast to peak in 2025, to approximately 5,400 bpd of crude oil and condensate. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2046.
Remaining recoverable reserves
The field is expected to recover 13.04 Mmboe, comprised of 13.04 Mmbbl of crude oil & condensate.
Contractors involved in the Avalon conventional oil field
Some of the key contractors involved in the Avalon project as follows.
EPC Contractors: Global Engineering and Construction Group
Other Contractors: Stena
About Ping Petroleum UK
Ping Petroleum UK Plc (Ping Petroleum UK) is an upstream company, focused on shallow water offshore production and development opportunities. Ping Petroleum UK is headquartered in London, Greater London, the UK.
For more details on the Avalon Conventional Oil Field, buy the profile here.
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GlobalData, the leading provider of industry intelligence, provided the underlying research used to produce this article.
This information is drawn from GlobalData’s Oil & Gas Intelligence Center, which provides detailed profiles of 34,000+ oil and gas fields, 400,000+ exploration blocks, 1,100+ LNG terminals, 3,400+ gas processing plants, 5,000+ storage terminals, and 8,000+ pipelines, 1,400+ refineries and 13,000+ petrochemical plants worldwide.
