Blocks 16/2b & 16/3d - CairngormStratic holds a 50% working interest in blocks 16/2b and 16/3d, with Nippon holding a 50% working interest. Stratic operates both blocks. Stratic’s interests in block 16/2b and 16/3d were acquired in December 2004 and December 2005 respectively. The respective licences are held for an initial period of four years. Stratic has the right to apply for an additional four-year term subject to satisfactory completion of the work programme.
The blocks are located in water depths of approximately 110 m to 140 m and are adjacent to the main producing areas of the South Viking Graben. Production infrastructure is potentially available via the Brae complex to the south-east and the SAGE gas pipeline passes through the western part of Block 16/2b. The Cairngorm field discovery, which straddles the two blocks, was discovered in 1990 by well 16/3a-11. Although this well flowed at rates of up to 2,600 bopd, there are uncertainties with regards to the volume of recoverable oil in the granite reservoir, the extent of the fractured granite, whether the fracture system extends into the Old Devonian sandstone and the depth of the oil-water contact.
Stratic completed a 3D seismic data acquisition programme during 2006, covering blocks 16/2b and 16/3d. Prior to this new survey, seismic data over the area was poor. Processed seismic data from the new survey became available for interpretation in April 2007 and is currently under review. Based on the interpretation of the new data to date, an appraisal well on Cairngorm is tentatively planned for drilling in 2008 dependent on rig availability.
In addition to the Cairngorm discovery, Stratic has identified a number of prospects and leads in blocks 16/2b and 16/3d which are intended to be the subject of further study using the new 3D seismic survey.
The most promising prospect in the area which Stratic has identified is called Prospect X, one of the few remaining un-drilled basement structures in the North Sea and overlain by a Tertiary Heimdal Sandstone prospect. Stratic estimates that Prospect X has a total prospective unrisked resource potential (Heimdal and pre- Cretaceous) of 88 mmstb. Based on the seismic data acquired to date, Prospect X is a high risk exploration prospect, but Stratic hopes to be able to reduce this risk to acceptable levels after interpreting the new 3D seismic data. If Prospect X can be matured during this process, Stratic and Nippon are likely to plan to drill an exploration well on the prospect in 2008.
In addition, Stratic has identified a number of Tertiary leads on block 16/2b that will be further evaluated with the newly acquired 3D seismic survey.
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Location Map of the
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