Venture Production plc acquires offshore assets from Wintershall - Netherlands
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Announcing its second expansion deal in the Netherlands for 2008 and the eighth deal to be announced by the company so far this year, Venture Production is to acquire two further undeveloped offshore discoveries. Subject to regulatory approval, Venture has agreed to acquire from Wintershall operated interests in blocks A15a (27.0%) and B17a (23.5%) containing the A15-2 and B17-5 (shallow) gas discoveries. The A15-2 field is located adjacent to the A12, B10 and B13 gas fields that are currently being developed. It has gas in Pleistocene sands at relatively shallow depths (457-610m) for which Venture estimates base case gross recoverable resources to be around 65 Bcf. The A15-3 appraisal tested gas at over 10 MMcf/d. The likely development plan envisages up to four development wells drilled from a satellite platform connected to the A12-A host infrastructure via a 10" pipeline. The B17-5 field, located 10km north-west of the Hanze field, was discovered by Wintershall in 1997. Venture estimates base case gross recoverable resources to be around 35 Bcf, again reservoired in relatively shallow Pleistocene sands. This development plan calls for two wells and a platform tied back to the A6-F3 pipeline. Venture aims to bring these discoveries into production over the next three years.
This article is extracted from International Oil Letter, Vol 24 issue 28 dated 14th July 2008.
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