Enegi to drill for North Sea oil
MANCHESTER-based oil exploration firm Enegi has secured two licences for the North Sea.
It bid for the licences in March alongside Aberdeen-based ABT Technology which has devised a way of extracting difficult to reach oil using buoy technology.
The two companies are targeting oil fields that are already known about but are currently considered to costly to extract.
“Of greatest importance in selecting these assets was a clear indication of the presence of hydrocarbons, remoteness from available infrastructure meaning that a small, standalone development solution would be necessary, and a physical environment that would allow a buoy to be successfully implemented,” said the company.
Chief executive Alan Minty said: “These licences, which were specifically identified, are all in the optimum operating envelope for ABT’s buoy technology and we believe this technology offers the best chance of commercialising the discoveries and prospects that have already been identified on them.
“Our entry in the North Sea and collaboration with ABT is absolutely in line with our strategy of creating a diverse portfolio of assets with reduced risk; where previous exploration and appraisal activities have proved up the presence of hydrocarbons, whilst the economics have previously prohibited development of these assets.”
The licences were awarded by the Department for Energy and Climate Change.
