Shearwater begins seismic survey in North Sea licence

6 August 2019 (Last Updated August 6th, 2019 11:43)

Shearwater GeoServices has commenced a 3D seismic survey over the Pensacola Prospect on Licence P2252 in the Southern North Sea.

Shearwater GeoServices has commenced a 3D seismic survey over the Pensacola Prospect on Licence P2252 in the Southern North Sea.

The survey is being conducted by Shearwater’s Polar Empress vessel, with field operations expected to be completed in two weeks.

Following the completion of seismic acquisition, the procured data will be processed and final results will be due in the third quarter of 2020.

Shell UK operates the Licence P2252 with 70% interest. It acquired the majority stake from Cluff Natural Resources, which now holds the remaining 30% non-operated interest in the licence.

The Licence P2252, including the Pensacola prospect, is estimated to host gross P50 Prospective Resources of 309 BCF in an untested Zechstein Reef.

Cluff chief executive Graham Swindells said: “Our participation in this seismic survey represents the first field operations for Cluff and is clearly an important milestone in the development of the Company as it pursues its ambition to become one of the leading exploration companies operating in the UKCS [United Kingdom Continental Shelf].

“The Pensacola prospect is an exciting opportunity, worked up by the Cluff team, and the acquisition of high quality modern 3D seismic over the prospect is a key step in de-risking future exploration drilling activities.”

The companies aim to take well investment decision on the licence before the end of 2020.