HitecVision subsidiary NEO Energy (previously Verus Petroleum) has become operator and gained 13% from exiting Spirit Energy in Babbage Field licence P456, effective 14 May 2020. Babbage gas field lies in the Southern North Sea in P456 block 48/2a (57 sq km) which was awarded in the 8th Seaward Licensing Round. It was discovered in an Early Permian Early Leman Sandstone reservoir by 48/2-2 (1989, Amoco, 3,535m) and production commenced in August 2010 with an expected field life of 20 years. Babbage had original recoverable reserves of ~300 Bcfg, and produced ~130 Bcfg by end 2019. Premier acquired the acreage when it bought E.ON E&P's UK licences in April 2016. Premier then sold its equity in Babbage Field licence P456, and adjacent P2290, P2212 and P2301, to Verus Petroleum in December 2018, when operatorship was also transferred to Spirit Energy. Babbage and P456 equity partners are now NEO Energy SNS Ltd (60% + Op) and KNOC via Dana Petroleum E&P Ltd (40%).
HitecVision subsidiary NEO Energy (previously Verus Petroleum) has become operator and gained 13% from exiting Spirit Energy in Babbage Field licence P456,