Discovered in 2008 by Maersk Oil and its co-venturers, the Culzean gas condensate field has resources estimated at 250-300 million barrels of oil equivalent. Production is expected to start in 2019 and continue for at least 13 years, with plateau production of 60,000-90,000 barrels of oil equivalent per day.
The high pressure, high temperature (HPHT) field is in the UK Central North Sea is expected to produce enough gas to meet 5% of total UK demand at peak production in 2020/21. Culzean is also the largest gas field sanctioned since East Brae in 1990 (WoodMac research).
Maersk Oil and its co-venturers, JX Nippon and BP (Britoil) are investing around USD 4.5bn in the development, with more than 50% committed to investments in the UK. Over the projected life of the field, it’s anticipated that around USD 3.3bn in operating expenditure will be spent in the UK domestic market.
The Culzean field aligns with the UK’s commitment to increased gas-fired electricity generation and is expected to support an estimated 6,000 UK jobs and create more than 400 direct jobs.
The development was approved by the UK Oil & Gas Authority in August 2015. Drilling began in September 2016.