Arran

Arran Gas Condensate Field Profile

Location

The Arran gas condensate field is located in the Central North Sea, approximately 222-240 km east of Aberdeen, close to the UK-Norway median line. It spans across blocks P359a/b, P1051, and P1720.

Water Depth

The field is situated in a water depth of about 85 meters.

Field History and Development

• The field was previously known as Barbara-Phyllis before being renamed Arran.
• It was brought on stream in October 2021 as a 60-km subsea tie-back to the Shell-operated Shearwater A platform.
• In May 2024, Shell UK Ltd. completed drilling the AN-4 infill well on the Arran field, aimed at improving recovery from the field. The well is scheduled to begin production later in 2024.

Operators and Ownership

• The field is operated by Shell UK Ltd., which holds a 44.57% interest.
• RockRose Energy holds a 30.43% interest.
• DNO Exploration UK Ltd. acquired a 25% stake in the field from ONE-Dyas E&P Ltd. in May 2024.

Production

• As of the first four months of 2024, DNO’s share of production from the Arran field averaged 3,150 barrels of oil equivalent per day (boe/d), which is higher than the projected 2,000-2,500 boe/d.
• The field produces primarily gas and liquids.

Recent Transactions

• DNO Exploration UK Ltd. completed the acquisition of a 25% interest in the Arran Field from ONE-Dyas E&P Ltd. in May 2024. The consideration paid upon completion was approximately $60 million, adjusted from the original $70 million due to interim cash flow. A contingent consideration of $5 million, dependent on certain operational targets, was not paid.

Infrastructure

• The Arran field is connected via a subsea tie-back to the Shell-operated Shearwater A platform, which is located 60 km away.