Zennor Petroleum has received approval from the Oil and Gas Authority (OGA) to proceed with the Finlaggan Field development in the central North Sea (block 21/05c). It has also secured a £170 million senior secured term loan facility to fund the development into production.
The project to recover 26 million barrels of oil equivalent (boe) of 2P gas condensate reserves will include two subsea production wells tied back 20km to the ConocoPhillips-operated Britannia platform. Development wells are currently being drilled by Transocean’s Paul B Loyd Junior drilling rig, with subsea installation works planned for 2019.
First production from Finlaggan is expected in Q4 2020. Read more…
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