Exploration

North Eigg shares many geological similarities with the Rhum field

UK Northern North Sea

Licence P2501 North and South Eigg – Blocks 3/24c, 3/29c

Serica (operator) 100%

Blocks 3/24c and 3/29c contain the North Eigg and South Eigg prospects and are located in the Northern North Sea, adjacent to the Serica operated Rhum Field in Block 3/29a. The prospects are high pressure and temperature (HPHT) and interpreted to share many geological similarities with the Rhum Field. North Eigg is the primary target and is clearly defined on 3D seismic data and forms a structural trap sealed against the East Shetland bounding fault. Serica has carried out an in-house evaluation of the prospects and its estimate of unrisked prospective (recoverable) resources, based on seismic mapping and Rhum analogue data, is shown below.

North and South Eigg

Prospective Resources (Recoverable)
  Dry Gas (bcf) Oil / Condensate (mmbbls)
  P90 P50 P10 P90 P50 P10
North Eigg 105 367 1216 1.2 8.3 53.3
South Eigg 69 263 939 2.1 11.3 61.9

Serica has committed to drilling an exploration well within three years of licence award, and in the event of a commercial discovery, intends to develop the field via a subsea tie-back to the Serica operated and 98% owned Bruce facilities. As well as providing Serica with potentially significant additional reserves, a tie-back to the Bruce platform would reduce unit operating costs and extend the economic life of this strategic North Sea infrastructure.

EIGG Seismic

Eigg Locator Map

North & South Eigg recoverable Resources

~130 mmboe*

2 prospects

* North & South Eigg P50 prospective resources
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