The Parkmead Group Plc announced on 7 February 2018 that it had agreed to acquire Faroe Petroleumâs 39.5% interest in the Perth and Dolphin fields situated in 15/21a, b and c and f and 14/25a across licences P218, P588 and P2154. This now gives Parkmead 100% interest in the two fields which are at the centre of the Greater Perth Area (GPA) oil hub project. The deal is subject to regulatory approval.  In addition to the above deal, Parkmead has signed an agreement with Nexen Petroleum to conduct an engineering study in relation to the potential subsea tie-back of the GPA project to the Nexen operated Scott Platform. The study will include topside modifications and processing capabilities at Scott as well as caisson design work. Subsea 7 and Ingen will be providing additional technical expertise during the study. Along with this study Parkmead has commissioned a new reservoir study with AGR Tracs International in relation to well stimulation which could lead to increased flow rates and oil recovery by analysing the effect of fracture stimulation on the reservoir. Â  Parkmead took a number of steps in 2017 in relation to the GPA project. An invitation to tender was announced to the service provider market, covering the pre-FEED, FEED and subsequent development phases for the project.  Perth was discovered with well 15/21a-7 in November 1983. The discovery consists of four segments divided by an east-west fault and a north-south fault. These four segments are called Perth Core (drilled well 15/21b-47 (and sidetracks), 15/21b-49 and 15/21b-46), Perth Beta Terrace (discovery well 15/21a-7), Perth Beta East (undrilled) and Perth North (undrilled). Prior to the Parkmead takeover of DEO, the company submitted a Field Development Plan (FDP) for the Perth Area in January 2012. At the time it was planned for the field to be developed via a subsea development tie-back to an FPSO with oil exported by shuttle tankers. It is understood that there was to be one drill centre with six wells â four producers and two water injectors. The subsea structure was to be designed to allow for future tie-ins and for the capacity to drill up to two additional subsea wells. The Dolphin field was discovered in 1992 with well 15/21a-46 by Amerada Hess. The field lies 500 m to the south of the Spaniards discovery and immediately west of the Scott and Telford fields. Following completion of the deal, interest in Dolphin and Perth is held by Parkmead (E&P) Limited (100%)
Parkmead (->100%) has agreed to acquires a Faroe Petroleumâs 39.5% interest in the Perth and Dolphin fields situated in 15/21a, b and c and f and 14/25a across licences P218, P588 and P2154.