i3 Energy continues to seek partners to support the development of the Liberator oil field in P1987 and will also likely farm down the planned Liberator West appraisal on adjacent P2358, with spud expected in Q4 2018. i3 operates both licences with 100% equity and had previously reported a 90 day period of exclusivity with an unnamed party, which has now ended without a firm agreement. i3 is seeking cash consideration plus promoted development carry of i3 for Liberator. Funding requirement to first oil is US$ 45 million and the Liberator Field Development Plan (FDP) was submitted on 2 October 2017, with approval anticipated in Q1 2019. Liberator was discovered by 13/23d-8 (2013, Dana (KNOC)), which revealed 7.3m of net pay at the top of a 96 meter, high quality Lower Cretaceous Captain Sands reservoir. The Liberator field has preliminary estimated recoverable resources of 10 to 15 MMbo, and is located within block 13/23d, 64km from the south Moray coast in the Moray Firth's South Halibut Basin. The Liberator Phase 1 field development proposal is for two wells with one close to the existing manifold at Repsol Sinopec-operated Blake field and the other 2km from the Blake manifold. Fluids produced from Liberator will be co-mingled with those from the Blake field and processed by the Repsol Sinopec operated Bleo Holm FPSO. Field life is envisaged to be seven years until the end of the approved contract for Bleo Holm FPSO on Blake field. Production is expected to be approximately 9,500 bo/d and 2.5 MMcfg/d, with a 2020 peak of 15,000 bo/d and 3.7 MMcfg/d. Contact: Jonathan Wright or David van Erp at GMP FirstEnergy, Tel: +44(0)2074480200
i3 Energy continues to seek partners to support the development of the Liberator oil field in P1987 and will also likely farm down the planned Liberator West appraisal on adjacent P2358, with spud expected in Q4 2018. i3 operates both licences with 100% equity and had previously reported a 90 day period of exclusivity with an unnamed party, which has now ended without a firm agreement. i3 is seeking cash consideration plus promoted development carry of i3 for Liberator. Funding requirement to first oil is US$ 45 million and the Liberator Field Development Plan (FDP) was submitted on 2 October 2017, with approval anticipated in Q1 2019. Liberator was discovered by 13/23d-8 (2013, Dana (KNOC)), which revealed 7.3m of net pay at the top of a 96 meter, high quality Lower Cretaceous Captain Sands reservoir. 