Shell has wrapped up seismic survey work on a newly-acquired southern North Sea prospect.
The energy giant completed a deal in May to acquire 70% of the Pensacola gas prospect from Cluff Natural Resources, thought to hold recoverable reserves of 100 million barrels of oil equivalent.
As part of that deal, Shell agreed to cover 75% of costs of up to £20.7m on the site, including acquiring more than 400 square kilometres of new seismic data.
Partner Cluff, retaining the other 30% stake, said today that the seismic shoot had been completed.
It was conducted by Shearwater GeoServices using the Polar Empress vessel.
The final results are expected to be received by early Q3 2020.
A decision on the contingent well commitment is expected to be taken in the second half of 2020.
Cluff’s chief executive Graham Swindells said: “We would like to thank Shell and Shearwater for completing a safe and efficient acquisition programme in what were challenging weather conditions for this time of year.
“The PSDM datasets represent a key step towards the drilling of an exploration well on the Pensacola prospect and we look forward to receiving the final products in due course.
“While awaiting delivery of the newly acquired seismic data, we continue to work with Shell on licence P2437 as we progress the Selene prospect towards a drilling decision.”
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