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October 20, 2014

Xcite Energy signs MOU with Baker Hughes for Bentley field

Xcite Energy Resources has signed a memorandum of understanding (MoU) with Baker Hughes for the Bentley field, located in the UK section of the North Sea.

Xcite Energy Resources has signed a memorandum of understanding (MOU ) with Baker Hughes for the Bentley field, located in the UK section of the North Sea.

The MOU may include the supply of drilling and completion services, well engineering, electronic submersible pumps and reservoir engineering.

Baker Hughes will work with all key stakeholders to develop field-specific technical and commercial oilfield services.

"The block, which covers an area of more than 200m², was awarded to Xcite Energy in October 2003."

Xcite Energy CEO Rupert Cole said: "The provision of these key oilfield services is an important part of the successful delivery of any project and we believe Baker Hughes has the necessary skills, expertise and track record to support our development group."

Bentley oil discovery is located in block 9/3b in the North Sea, 160km east of the Shetland Islands on the western edge of the Viking Graben.

The block, which covers an area of more than 200m², was awarded to Xcite Energy in October 2003.

BP signed a contract with Xcite Energy in January 2010 to market and distribute the crude oil extracted from the Bentley field, which was discovered in 1977.

The Bentley field is a four-way dip closed structure of Lower Eocene and Upper Palaeocene Dornoch sandstone reservoir, containing around 909MMstb in-place of 10°-12° API heavy oil.

Energy

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