North Sea Energy’s (NSE) Bagpuss Site Survey should be completed within the next seven days, it was announced today.
The survey started today and will collect high resolution digital seismic, soils data and environmental data that is required by DECC prior to drilling of the initial Bagpuss well, which is expected Q3 2015.
The joint venture partners recently received approval from DECC to move into the second phases of the Bagpuss Promote licence by demonstrating financial, technical and environmental capacity to drill the well. North Sea Energy, which is based in Canada, holds a 15% interest in the Bagpuss and Blofield prospects located in blocks 13/24c and 13/25 at the eastern extremity of the Inner Moray Firth. The venture is funded through a farm-in-agreement with partner Maersk, which will cover 100% OF NSE’s drilling costs for the first well. The Danish oil giant will also cover 50% of NSE’s costs on a subsequent well if it is drilled.
Other Joint venture partners include: Premier Oil, Maersk Oil UK, EnCounter Oil, and Groliffe hold the remaining 37.5, 25, 15, and 7.5 percent working interests in the blocks, respectively.
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