Victory is a conventional gas development located in shallow water in the UK and is operated by Corallian Energy. Discovered in 1977, Victory lies in block 207/1a ALL, with water depth of around 533 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 development cost is expected to be $149 m. The Victory conventional gas development will involve the drilling of approximately one wells and includes subsea tree.
Field participation details
The field is owned by Corallian Energy and Reabold Resources.
Production from Victory
Production from the Victory conventional gas development project is expected to begin in 2024 and is forecast to peak in 2027, to approximately 70 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2032.
Remaining recoverable reserves
The field is expected to recover 25.51 Mmboe, comprised of 153.07 bcf of natural gas reserves.
About Corallian Energy
Corallian Energy Ltd, is engaged in the discovery, exploration, extraction of crude petroleum and natural gas. The company is headquartered in 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.