Oil and gas firm Bridge Energy said today it was looking ahead to an active 2012 after buying a 50% stake in the Duart field from Nexen Petroleum Dragon UK.
Bridge said the interest in Duart, a central North Sea subsea development tied back to the Talisman-operated Tartan platform, would add 750 barrels of oil per day to Bridge’s production and 1million barrels of 2P reserves, backdated to January 1, 2011. It was due to produce until 2021 and cost an adjusted figure of £24million
The firm’s deputy chief executive, Tom Reynolds, added: “Bridge now looks forward to a very active 2012, with four high impact exploration wells in our Norwegian portfolio and the Victoria phase II development project which will be progressed.”
Victoria phase II is a subsea gas well to be tied back to the Victoria subsea tie-back in the southern North Sea, with production estimated at 1,700 barrels of oil equivalent per day scheduled for 2013/14.
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