Parkmead progressing studies for two UK North Sea projects

Parkmead Group is moving closer to development of various fields in the Greater Perth Area (GPA) of the UK central North Sea.


Among these are the Perth and Dolphin Upper Jurassic oil fields, in which the company has increased its equity interests.


Following an invitation to tender earlier this year covering the project’s pre-front-end engineering (pre-FEED), FEED and subsequent development phases, the company received 13 alliance bids from 35 contractors. These spanned the project’s main components, i.e. drilling, subsea construction, and the export route options.


Parkmead is currently in discussions with various service companies, the focus being mainly on innovative approaches to the GPA development, covering well planning, timeline to production, and financing.


Some of the proposals have offered finance for major parts of the development, to reduce capex for bringing the project on-stream.


At the same time, Parkmead has undertaken detailed development concept work on the Platypus gas field in the UK southern North Sea.


By collaborating with other facilities in the area, a minimal platform concept could be feasible, the company said, again substantially reducing development expenditure. The studies also showed the field’s gas reserves could be recovered effectively from two rather than three development wells.


The partners are working toward optimizing the export route for Platypus ahead of an off-take agreement, with various export options available.