Pegasus West is a conventional gas development located in shallow water in the UK and is operated by Spirit Energy Resources. Discovered in 2014, Pegasus West lies in block 43/13b ALL, 43/19b ALL, 43/17b ALL, 43/18b ALL, and 43/12 ALL, with water depth of around 95 feet.

The project is currently in approval stage and is expected to start commercial production in 2024. Final investment decision (FID) of the project will be approved in 2022. The Pegasus West conventional gas development will involve the drilling of approximately one wells and includes subsea manifold and subsea trees.

Field participation details

The field is owned by Centrica, Neptune Energy Group and Stadtwerke Munchen.

Production from Pegasus West

Production from the Pegasus West conventional gas development project is expected to begin in 2024 and is forecast to peak in 2025, to approximately 306 bpd of crude oil and condensate and 46 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2038.

Remaining recoverable reserves

The field is expected to recover 17.75 Mmboe, comprised of 0.66 Mmbbl of crude oil & condensate and 102.54 bcf of natural gas reserves.

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About Spirit Energy Resources

Spirit Energy Resources Ltd is an energy company that carries out the exploration, development, production, processing and transportation of crude petroleum and natural gas. The company is headquartered in Surrey, the UK.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.