Ascent nears Dutch development

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Offshore.no International » News » Field development

Posted 13.09.2011 09:46:41 av John Bradbury

London-listed Ascent Resources has had a licence period extended offshore The Netherlands extended as it nears a conceptual development for the area.

Ascent said today that its M10/M11 licence area has been extended out until June 2013, allowing more time for exploration of the area.

Three structures have been identified within the licences, Ascent said today, all of which contain gas discovery wells, which encountered gas within a Slochteren unit of Rotliegendes sandstones.

Already a conceptual development plan has been prepared for the area, Ascent reports, and a final appraisal well is being planned for the second half of next year to confirm reservoir parameters for detail project design.

“This well will be an appraisal well for the Terschelling Noord discovery, which is in a structure that lies partly within the M10/M11 licence area and partly to the area to the south. The well would be expected to then become a production well for the development,” Ascent stated .

Ascent Resources Netherlands has 54% equity in the project, and its partners a Energie Beheer Nederland B.V with 40% and GTO Limited which holds 6%.

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