* Shell are in the process of divesting 10% to Chrysaor
The Schiehallion Field is located 175 km west of the Shetland Islands. Siccar Point acquired its 11.75% non-operated interest in the field from the takeover of OMV (U.K.) in January 2017.
Schiehallion is currently the UK’s second largest* field. It was discovered in 1993 with first production in 1998. The field has produced 323 million barrels of oil in 15 years of production through a floating production, storage and offloading unit (FPSO).
The reservoir is comprised of excellent quality stacked Tertiary sands deposited by deep water gravity flows that are able to be mapped on 3D seismic. The use of 4D seismic technologies has enabled better understanding of the location of the sand bodies, their connectivity, and the hydrocarbon volumes. As a result of these assessments the expected ultimately recoverable reserves have been substantially increased from 340 million barrels (original field development plan) to now over 750 million barrels with over 400 million barrels of remaining recoverable oil reserves.
In 2011 the Schiehallion partnership sanctioned field redevelopment as part of BP’s Quad 204 project. The purpose built Glen Lyon FPSO has now replaced the old FPSO. Much of the subsea infrastructure has also been replaced. The field is planned to produce for at least another 20 years after production resumes in 2017. As well as re-using the existing well stock of 44 producers and injectors, an ongoing multi-year drilling programme is adding new wells to the field. There is also the opportunity to substantially enhance oil recovery through polymer flooding techniques.
* Shell are in the process of divesting 30.03% to Chrysaor
The Amos Field is a small discovery made in 2008 located 5 km south of the Schiehallion Field. Siccar Point acquired its 35.3% non-operated interest in the field from the takeover of OMV (U.K.) in January 2017.
The reservoirs in Amos are the same as in Schiehallion. It is expected that Amos will be developed as a sub-sea tie-back into Schiehallion.
* Source: Wood Mackenzie