SiccarÂ PointÂ Energy hasÂ entered into a Sale and Purchase Agreement to divest its 26.0% equity interest across three production licences covering the Jackdaw discovery to Dyas UK.Â  CompletionÂ ofÂ theÂ transactionÂ remainsÂ subjectÂ toÂ customaryÂ regulatoryÂ andÂ partnerÂ consents.Â Siccar Point Energy divests equity in Jackdaw SiccarÂ PointÂ EnergyâsÂ CEOÂ JonathanÂ RogerÂ commented: 'AsÂ JackdawÂ operatorÂ ShellÂ hasÂ carriedÂ out some excellent work in progressing this opportunity. However, with an exciting programme of exploration, appraisal and development activity in our West of Shetland portfolio we have chosen to focus our resources in this core area and monetise our Jackdaw interest'. DyasÂ CEOÂ RobertÂ BaurdouxÂ commented: 'DyasÂ aspiresÂ toÂ investÂ inÂ materialÂ upstreamÂ projects,Â which areÂ managedÂ byÂ experiencedÂ operators.Â WithÂ ourÂ CatcherÂ andÂ MarinerÂ developmentsÂ nearingÂ firstÂ  production,Â JackdawÂ willÂ provideÂ DyasÂ withÂ theÂ opportunityÂ toÂ joinÂ ShellÂ inÂ developingÂ thisÂ excitingÂ  gas-condensate field and bringing more gas into our portfolio. Jackdaw field According to information on the Siccar Point web site - the Jackdaw field is located in the Central North Sea area 250 km east of Aberdeen and 10 km north-east of Jade. Siccar Point acquired a 26% non-operated interest in the field from the takeover of OMV (U.K.) in January 2017. Jackdaw was discovered in 2005 and has subsequently been appraised by two additional wells. The field is a gas/condensate accumulation in Jurassic sandstones. The structure is an intra-basinal high located in the East Central Graben area of the Central North Sea. The overall structure is divided up into a number of fault compartments. Two of the fault compartments have been drilled with proven hydrocarbons. The field is currently being re-assessed by the operator with a decision on forward activity expected later in 2017. A full field development would be expected to produce well over 100 million barrels of oil equivalent. Original article link Source: Siccar Point Energy / energy-pedia 
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