P2650: Glenlough & Breckagh

P2650

Quad 29, Blocks 16, 17, 18, 19, 21, 22, 23, 27 & 28
Orcadian Energy (CNS) Ltd, 50% and Licence Administrator, Triangle Energy 50%
LicenceP2650
Block29/16, 17, 18, 19, 21, 22, 23, 27 & 28
Equity50%
OperatorOrcadian Energy (CNS) Ltd
Licence awarded2024
Licence statusInitial Term – Phase A
Prospective resources269 bcf
Our enthusiasm for these prospects is driven by the success of Chevron/Petrogas’s shallow gas developments in the Netherlands, and Apache’s exploitation of the Aviat Field to provide fuel gas for Forties. We have identified five leads, of which Glenlough and Breckagh are the most promising. Glenlough is seismically analogous to Aviat and has a mid-case recoverable prospective resource of 131 bcf. Breckagh bears more similarity to the Dutch shallow gas fields and has a mid-case prospective resource of 138 bcf. The remaining opportunities provide a useful upside, but success at Glenlough and Breckagh should provide the critical mass to enable the installation of a compression platform tied-in to the CATS pipeline at Tee#6 (50 km from the application area)

Orcadian was awarded the P2650 licence in 2024 in the 33rd licensing round. The licence is currently in phase A of the initial term and contains shallow gas accumulations.