Reach Exploration to license WesternGeco North Sea 3D data
Posted: 14 October 2003
WesternGeco announced an agreement with Reach Exploration to license
3D data over UK Block 13/27a in the North Sea.
Reach Exploration Director Miles Newman stated, “We have
identified several interesting prospects on 2D data on this block
and the WesternGeco 3D survey will allow us to firm them up for
testing with the drill bit. No wells have yet been drilled on this
block with the benefit of 3D.”
"WesternGeco is pleased to have concluded this agreement with
Reach Exploration,” said Rupert Hoare, WesternGeco Aberdeen
sales manager. “Our new business models make multiclient data
available to Promote companies at low initial rates, and we hope
our data will help Reach Exploration successfully attract investment
to this acreage."
"We are also in discussion with several other Promote companies
and we believe that the low initial fees on 3D data will help support
the government's aim of stimulating UK exploration," Hoare
added.
Reach Exploration was awarded four blocks in the UK 20th Licensing
Round. These blocks have now been successfully farmed out to UK
exploration and production companies Premier, Intrepid, and First
Oil. Reach has retained a carried interest of 5 per cent.
Additionally, Reach has been offered Moray Firth Blocks 13/27a
and 13/28b in this year's UK 21st Round. These blocks are adjacent
to the Ross Field and approximately 40 kilometers northwest of the
Buzzard development.
Reach Exploration was formed in 2002, and is based in Aberdeenshire,
Scotland.
WesternGeco, a joint venture between Schlumberger and Baker Hughes,
is a leader in integrated exploration and reservoir imaging services,
providing worldwide seismic acquisition, processing, and multiclient
surveys.
Posted by Richard Price,
Editor Pipeline Magazine
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