RockRose Energy said today that it had commissioned a report to determine whether a North Sea oil vessel should be replaced.
London-headquartered RockRose is paying Crondall Energy to assess the Bleo Holm vessel, which serves the Blake and Ross fields in the outer Moray Firth.
The assessment could recommend the replacement of floating production, storage and offloading unit.
Equally, it could propose extending the life of Bleo Holm, which is operated by Repsol Sinopec Resources UK (RSRUK).
A spokesman for RockRose said the study was being undertaken to “extend the life of the fields and give the opportunity to fully deliver other discovered hydrocarbons in the area”.
The study is likely to be of interest to i3 Energy, which has been exploring whether its Liberator field can be tied back to Bleo Holm.
Bleo Holm was installed in 1999, with first oil from Ross coming that same year.
Production from Blake followed in 2001.
The vessel is currently slated to be on station until 2024.
RockRose owns 30.82% of Blake and Ross.
The company also holds a 50% stake in the nearby Tain satellite discovery.
A second report ordered by RockRose will examine whether Blake and Tain contain more oil than current estimates suggest.
The study would help inform a final investment decision on Tain, RockRose said.
RockRose executive chairman Andrew Austin said: “Internal analysis undertaken since acquiring our interest in the Blake and Ross fields suggests there is significant upside in terms of recoverable discovered hydrocarbons, particularly in the Tain area.
“We have commissioned independent reports to be able to make informed financial decisions regarding further development/redevelopment opportunities. The results of these reports will be available in the next couple of months.
“While we remain focused on securing additional accretive acquisitions we are encouraged by the opportunities for organic growth offered within our existing portfolio.”
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