SHELL is offering the opportunity to acquire 40% equity in UK Licence P.077, block 22/12a Stavro Area, with a view to drilling the 100million-barrel prospect in Q4 2009 or Q1 2010.
The licence was formerly held by Shell, including a heritage Enterprise Oil interest, with OMV and Sumitomo each holding 20%. However, they have relinquished.
Stavro is a Jurassic prospect and straddles blocks 22/7 and 22/12a. Shell rates its prospectivity as “attractive”, with 3D seismic used to assess potential resources.
“This is an attractive, low/moderate-risk prospect that forms part of the Jurassic Fulmar sand Pod-Interpod play, similar to the Howe, Bardolino and Western Platform Fulmar discoveries,” says the marketing note put out by Schlumberger unit Indigopool.
“Charge (presumed hydrocarbons content) is from the Jurassic Kimmeridge Clay Formation. The top seal is provided by Heather/Kimmeridge Clay overlying Fulmar sands, and the lateral seal by shales of the Triassic Smith Bank Formation.”
The super-major says Stavro is well placed for tying into existing infrastructure should exploration drilling encounter sufficient resources. Early completion might be possible, presumably as a tie-back westwards to the nearby Nelson field.
Shell says it is committed to funding, as a minimum, its current 60% share of the well and expects anyone taking on the vacant 40% to dig into their pocket on a pro rata basis.
The online data room for Stavro opened on February 23, with offers due in by March 27.