Siccar Point has concluded its divestment of 26% in the Jackdaw discovery to Dyas for an undisclosed consideration. Deal completion was notified by the OGA on 7 January 2018, after the sale agreement was first announced on 6 November 2017. Jackdaw HPHT gas/condensate discovery is located in the Central North Sea within P098 - 30/2a Post-Tertiary & Pre-Tertiary, P111 - 30/3a Below the Top Danian/Ekofisk, and P672 - 30/2d. It was discovered by 30/2a-6 (2005, ConocoPhillips, 5,722m), which encountered 33m net pay in Late Jurassic Heather Formation turbidites and 32m of net pay in Middle Jurassic Pentland Sands, and appraised in 2007 and 2012. The discovery is estimated to hold recoverable resources of 125 - 250 MMboe in highly permeable sands, and is one of the largest undeveloped discoveries on the UK Continental Shelf. Previous partner plans were for a final investment decision mid-2015 and production start-up in 2019, which stalled in October 2014 due to costs escalating to over GBPS 3 billion (US$ 4.8 billion). Since then partners have considered more economic, lower risk development solutions involving a tie-back from Jackdaw to existing infrastructure such as Repsol Sinopec's Blane Field in 30/3a, 3km E of Jackdaw, or ConocoPhillips-operated Jade Field (Shell 35%) in 30/2c, 9km to the SW. Located in unlicensed acreage 6km W of Jackdaw, is the Palaeocene Forties Sand Courageous discovery 30/2a-5 (2005, Kerr-McGee, 3,331m) which tested 3,000 bo/d, 2 MMcfg/d and 800 bc/d. Siccar Point obtained its Jackdaw interest via its acquisition of OMV (UK) Ltd for US$ 870 million in January 2017. The revised partners in Jackdaw discovery and licences P098 - 30/2a Post-Tertiary & Pre-Tertiary, P111 - 30/3a Below the Top Danian/Ekofisk, and P672 - 30/2d are Shell subsidiary BG International Ltd (74% + Op) and Dyas UK Ltd (26%).
Siccar Point has sold its 26% interest in the Shell-operated (74%) Jackdaw HPHT field (P098 & P111 & P672) to Dyas.