Assets

Balanced portfolio of producing, appraisal and exploration licences in the UK North Sea.

Legend

Anasuria Producing

Avalon Development

Ranger Exploration

Anasuria

The Anasuria Cluster is located 175km east of Aberdeen in the Central North Sea, United Kingdom, and incorporates the Teal, Teal South, Guillemot A and Cook fields. All of these fields share the Anasuria floating production, storage and offloading (FPSO) host platform and lie in a water depth of 94m . Production from the cluster commenced in 1996 following the installation of the purpose built Anasuria FPSO that year. The Anasuria Cluster provides stable positive cash flow from current gross production of ~ 11,600 BOPD. The asset has a proven resource base which provides a foundation for further development. A number of opportunities exist within the licence areas which are expected to generate significant incremental value over the near term. The projects identified provide field re-development opportunities, development of existing discoveries and exploration upside which will be a focus over the next 3-5 years. The Anasuria Cluster represents an attractive, geographically focused package of operated interests in producing fields and associated infrastructure.

https://www.anasuria.co.uk

Key Facts

FIELDS BLOCK PING PETROLEUM INTEREST
Cook 21/20a 19.3%
Guillemot A 21/30 50%
Teal 21/25 50%
Teal South 21/25 50%
STATUS Producing
LOCATION UK Central North Sea

FACILITIES:

ANASURIA FPSO 50%
PARTNERS INTEREST
Ping Petroleum UK 50%
Hibiscus Petroleum 50%

Avalon

The Avalon prospect was successfully drilled in 2014 where oil was discovered from high quality Tertiary sands. In 2017 an appraisal well was drilled on the prospect which confirmed reserves and fluid characteristics. The Avalon partners are proceeding with development concept selection.

Key Facts

BLOCK 21/6b
PING PETROLEUM INTEREST 50%
STATUS Undeveloped Discovery
LOCATION UK Central North Sea
OPERATOR Ping Petroleum UK limited
PARTNERS INTEREST
Ping Petroleum UK 50%
Summit Exploration and Production Limited 50%

Ranger

The 15/16d block was awarded in the 28th UK licensing round. The license contained the Ranger prospect which was drilled in July 2017 using the Stena Spey Rig. The operatorship of this block was transferred to Ping Petroleum in November 2017 who now have 100% ownership of the license.

Key Facts

BLOCK 15/16d
PING PETROLEUM INTEREST 100%
STATUS Non-Producing
LOCATION Ping Petroleum UK
OPERATOR Summit Exploration and Production Limited
PARTNERS INTEREST
Ping Petroleum UK 100%

15/17c and 15/18c

Block 15/17c and 15/18c was awarded to Ping Petroleum UK Limited in the UK Government’s 30th offshore licensing round and are located in the Outer Moray Firth area of the Central North Sea. Ping have a 50 per cent working interest with Azinor Catalyst Limited. Block 15/17c and 15/18c contains an oil discovery in the Paleocene Forties Sandstone. The undeveloped discovery is supported by 3D seismic and state of the art seismic inversion which has been proven very effective in exploration and field development efforts in this area. This discovery is proximal to nearby infrastructure at Piper and Saltire Field and could be tied back to existing infrastructure in the area. This block adds undeveloped resources to Ping’s existing portfolio in the United Kingdom in a proven North Sea reservoir, using state of the art technology in an area with established infrastructure.

Key Facts

BLOCK 15/17c and 15/18c
PING PETROLEUM INTEREST 50%
STATUS Non-Producing
LOCATION Central North Sea, UK
OPERATOR Azinor (for area 15/17c and 15/18c)

22/14c

Block 22/14C was awarded to Ping Petroleum UK Limited in the UK Government’s 30th offshore licensing round and is located in the Eastern Graben of the Central North Sea. Ping have a 50 per cent working interest with Summit Petroleum Ltd. Block 22/14c contains several low risk Palaeocene exploration prospects in the prolific Forties Palaeocene sandstone on trend with Huntington and Everest fields. These prospects are supported by 3D seismic and state of the art seismic inversion which has been proven very effective in exploration and field development efforts in this area. These prospects provide near field, low-risk exploration targets which could be tied back to nearby existing infrastructure or support a new FPSO facility. This block adds low-risk exploration targets with significant upside to Ping’s existing portfolio in the United Kingdom in a proven North Sea reservoir using state of the art technology in an area with established infrastructure.

Key Facts

BLOCK 22/14c
PING PETROLEUM INTEREST 50%
STATUS Non-Producing
LOCATION Central North Sea, UK
OPERATOR Summit (for area 22/14c)