Share Price (RRE)

1732.7GBp -17.3
08:51 15/11/19

Latest Report

24 Sep

Latest Regulatory Release

29 Oct

Development Assets

Operations

Opportunities. Enhanced.

RockRose has interests in the Arran and Tain fields, which provide the Company with opportunities to arrest the decline in output from its portfolio of existing producing fields. RockRose’s interest in the Arran field was acquired from Dana Petroleum in 2018, whilst the Tain field was part of the Idemitsu acquisition in 2017.

Arran

The Arran gas/condensate field (RockRose 30.43%) is located 240 kilometres east of Aberdeen, close to the UK/Norway median line in a water depth of 85 metres. Following the submission of a field development plan (FDP) to the Oil & Gas Authority (OGA) in September 2018, the field is being developed and operated by Shell as a 60-kilometre subsea tie-back to the Shearwater platform at an estimated cost of £300 million. Production start-up is scheduled for the first half of 2021, with gross output expected to peak at over 22,000 boepd (approximately 7,000 boe/d net to RockRose) from reserves of c.30 MMboe (over 9 MMboe net to RockRose). Hydrocarbons will be processed on and then exported from the Shearwater platform, with gas joining the SEGAL system and condensate the Forties pipeline system.

57°29'59.3"N 2°01'42.8"E
58°15'53.7"N 1°24'59.0"W

Tain

Tain (RockRose 50.00%) is an appraised and tested oil accumulation in a water depth of 100 metres, located 10 kilometres to the north-west of the Blake field. Operated by Repsol-Sinopec, development studies are ongoing and the project is expected to reach FID (final investment decision) in the second half of 2020, with first oil in the first half of 2022. The current development concept is to develop Tain with two wells, which are expected to provide peak production in excess of 6,000 bopd. The field will be tied back to the Bleo Holm Floating Production, Storage, & Offloading vessel (FPSO). Produced oil shall be exported by shuttle tanker while excess gas will be exported via the Frigg pipeline.