The Jade Field is located in the Central North Sea area 240 km east of Aberdeen. Siccar Point acquired a 5.57% non-operated interest in the field from the takeover of OMV (U.K.) in January 2017.
Jade was discovered in 1996. Jade is a gas/condensate field which came onstream in 2002 as part of the ConocoPhillips operated J-Fields complex. Production is through 9 wells via a normally unmanned platform which ties back to the Judy Field. The reservoir is Triassic sandstones. To date the field has produced 46 million barrels of oil and 640 billion cubic feet of wet gas and is anticipated to continue producing beyond 2030.
There is material upside in the undrilled Jade South area. A well is expected to be drilled in this area within the next 3 years.