Wednesday, April 27, 2011

RWE to sell 20% interest in Clipper South gas field in UK North Sea

RWE Dea is planning to sell down 20% interest in the Clipper South gas field, UK North Sea. The gas field is located on Blocks 48/19c, 48/19a and 48/20a and straddles Production Licenses P008 and P465.
 -- The blocks has reserves of about 180 Bcf.
-- The gas at Clipper South is located in a tight Permian Rotliegend reservoir which contains approximately 500 Bcf of gas in place.
-- The development plan for Clipper South field was approved by the Department of Energy and Climate Change in March 2011.
-- The field will be developed by five horizontal wells, each containing up to six hydraulic fractures, connecting to a wellhead platform and then piped to the Lincolnshire Offshore Gas Gathering system (LOGGS) PR platform.
-- The first gas is expected in the Q1-2012, and the production is anticipated to reach a maximum rate of 100 MMcf/d.
-- Current ownership of the field: RWE (50%, Operator), Bayerngas (25%) and Fairfield Energy (25%).

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