Parkmead has mentioned it’s nearing a drilling choice on its Skerryvore area within the UK North Sea.

Skerryvore has been ready for a while, with Parkmead having beforehand mentioned it was looking for to drill again in 2015.

The agency mentioned that the licence has three essential stacked prospects which collectively may include 157 million barrels of oil equal.

Parkmead mentioned that the agency, together with three way partnership companions, have made “glorious progress” over the past 12 months” having lately reprocessed new 3D seismic information and been granted an extension to the licence.

It mentioned: “Volumetrics and economics are presently being finalised forward of a drilling choice.”

The North Sea operator famous “vital exercise on a number of fronts” within the space, with Harbour Power near a ultimate funding choice on the adjoining Talbot discovery and NEO Power persevering with redevelopment of the Affleck area, and Shell lately spudding the high-impact Edinburgh effectively.

It famous that Skerryvore is in “shut proximity” to ConocoPhillips’ Tommeliten A set up.

Parkmead is operator with 30%, together with companions Serica Power (20%), CalEnergy Assets (20%) and NEO Power (30%).

Elsewhere, Parkmead mentioned it’s “assessing draft business provides” from the Scott area partnership to make use of its Higher Perth Space as a tieback – one thing Parkmead has been reviewing for at the least 12 months, whereas research on Scott as a number have been taken place way back to 2018.

In its interim outcomes for the six months to December 31, 2021, revealed right now, the agency famous the current surge in oil costs, and mentioned that for each $10 enhance, the web current worth of Perth will increase by roughly £130m.