Venture completes Barbarossa gas field

Venture Production plc, a leading new generation oil and gas company based in Aberdeen, Scotland, has drilled and completed the Barbarossa gas field in the North Sea.

Venture is the operator of the field with 90% stake. The field is located in Block 47/9c in the southern North Sea.

Noble Julie Robertson jackup rig had spudded the vertical section of this new well (47/9c-11) in February 2008 and, following confirmation of good quality Rotliegendes reservoir, a decision to sidetrack was taken in mid-April.

This sidetrack results shows rates of 40 million standard cubic feet per day gross were produced through a 96/64” choke with a tubing head pressure of over 1,000 psi.

Mike Wagstaff, Chief Executive, said confirming a new near-term gas field development of this size is very good news not only for Venture, but also for the UK, as we strive to maximise recovery of our offshore gas reserves.

We started acquiring our interests in Channon and Barbarossa in 2005 and, through a series of deals with both large and small North Sea players, created the option to drill and tie-back these two opportunities, he added.

With the outlook for gas prices having improved considerably since we drilled the Channon discovery well last year we now have a very attractive joint development lined up for delivery next year, concluded Mr Wagstaff.