Varadero is a producing conventional oil field located in shallow water in the UK and is operated by Premier Oil UK. The field is located in block 28/9a ALL, with water depth of 293 feet.

Field participation details

The field is owned by Harbour Energy, ONE-Dyas, Waldorf Production and MOL Hungarian Oil and Gas.


Production from Varadero

The Varadero conventional oil field recovered 20.07% of its total recoverable reserves, with peak production expected in 2022. The peak production was approximately 13.21 thousand bpd of crude oil and condensate and 5 Mmcfd of natural gas. Based on economic assumptions, production will continue until the field reaches its economic limit in 2066. The field currently accounts for approximately 1% of the country’s daily output.


Remaining recoverable reserves

The field is expected to recover 58.25 Mmboe, comprised of 55.11 Mmbbl of crude oil & condensate and 18.81 bcf of natural gas reserves. Varadero conventional oil field reserves accounts 0.01% of total remaining reserves of producing conventional oil fields globally.


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.