Pierce is a producing conventional oil field located in shallow water in the UK and is operated by Shell EP Offshore Ventures. The field is located in block 23/27a ALL and 23/22a ALL, with water depth of 363 feet.
An expansion project is associated with the Pierce, namely Pierce Depressurisation Project. This project is currently in the construction stage, expected to start in 2021.
Field participation details
The field is owned by Royal Dutch Shell and Delek Group.
Production from Pierce
The Pierce conventional oil field recovered 69.38% of its total recoverable reserves, with peak production in 2000. The peak production was approximately 52.41 thousand bpd of crude oil and condensate. Based on economic assumptions, production will continue until the field reaches its economic limit in 2030. The field currently accounts for approximately 2% of the country’s daily output.
Remaining recoverable reserves
The field is expected to recover 60.8 Mmboe, comprised of 23.9 Mmbbl of crude oil & condensate and 221.38 bcf of natural gas reserves. Pierce conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.
Contractors involved in the Pierce conventional oil field
Some of the key contractors involved in the Pierce project as follows.
Main EPC: Subsea 7
Other Contractors: Global Engineering and Construction Group, GMC Inspection Services and Subsea 7
About Shell EP Offshore Ventures
Shell EP Offshore Ventures Ltd is engaged in oil and gas exploration and production in the UK. The company is a wholly owned subsidiary of Royal Dutch Shell plc.
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.