document: Siccar Point announced on 28 March 2018 that it has farmed down a 30% interest in licences P1028 and P1189 which contains the appraising Cambo field and also a 22.5% interest in the Blackrock prospect in licence P1830 to Shell UK Limited. The Cambo field is being appraised with well 204/10a-5, which spudded on 24 April 2018. Blackrock is planned to be drilled in 2019. It is understood that in return for the interest Shell will carry costs in relation to the aforementioned exploration and appraisal wells and also any potential development on Cambo. The deal was completed on 1 May 2018.  Cambo was discovered in 2002 by Amerada Hess with well 204/10-2. Five wells in total have been drilled on the structure to date. The plan for the appraisal well is to undertake an Extended Well Test (EWT) on the field. Cambo has an Hildasay reservoir and the field is thought to hold approximately 600 MMbo in place. The plan for the potential development is that it will be developed in two phases. Phase one involves a leased FPSO with seven producing wells and two water injectors and the plan is to produce approximately 87 MMbo and also some associated gas. Phase two details have not been defined to date. FID for the field is scheduled for the first half of 2019.     The Blackrock prospect is situated between the Cambo and Rosebank fields and has a Colsay / Hildasay reservoir target. The licence, P1830, was awarded in the 26th Offshore Licensing Round. The planned 2019 exploration well, if successful, could add substantial resources to the planned area development.  Following completion of the deal interests in P1028 and P1189 are held by Siccar Point Energy (70% + operator) and Shell UK Limited (30%). Interest in P1830 is held by Siccar Point Energy (52.5% + operator), INEOS E&P UK Limited (25%) and Shell UK Limited (22.5%).
summary: United Kingdom, P1189