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Asset Book 2014
Exploration and Production
ContentsIntroduction 3Our story so far 5Our business outlook 7Regional overview 9 UK & the Netherlands 11 Norway 25 Canada 33 Trinidad and Tobago 41Glossary 46
Safety
High performance
Pioneering spirit
Our E&P story started in the East Irish Sea with the discovery of the Morecambe Bay gas field in 1974 by John Bains. As Centrica Energy’s sole asset at the time of the company’s birth in 1997, the Morecambe operation was the springboard for our growth into what is now an E&P business producing 230mboe/d across five countries on both sides of the Atlantic. Over 1,700 of my colleagues work every day with the united purpose to make our business aspirations a reality, delivering energy not just for today but well into the future. We are united by a common desire to create a culture across Centrica Energy (CE) which can be summed up in five words; safety, high performance and pioneering spirit. We call this the CE Way and it guides everything we do, ensuring that we do our jobs safely, or not at all, we demand the best from one another and we look for better ways to achieve our goals. The E&P world is one where you can ill afford to stand still if you want to maintain production, never mind grow it. We are working in a challenging environment where, across the globe, industry players see increasing costs from the supply chain, lower productivity in maturing basins and less than adequate capital project performance. Our strategy is focused on three regional businesses, which positions us well to compete against this backdrop. In Norway, we are building on proven exploration per-formance; in the UK and Netherlands we are focused on operational excellence and efficiency to maximise recovery from existing hubs; and in Canada, with our partner Qatar Petroleum International, we are exploiting the full potential of the acreage we have acquired. We recognise that choices have to be made to prioritise where we spend our capital, which over the next three years will be in the region of £2.7 billion. Continued financial discipline will ensure investment continues to be targeted to the best opportunities. Our Asset Book provides key data on our operations. As well as serving as a useful reference document, we hope it conveys the strength and diversity of the portfo-lio that Centrica Energy has built.
Sarwjit Sambhi Managing Director, Centrica Energy Exploration & Production
3Centrica Energy
4Centrica Energy Asset book 2014 Asset book 2014 IntroductionIntroduction
Our story so far
In the last three years, Centrica Energy has delivered on an ambitious growth agenda, increasing oil and gas production by 50%. Our total production in 2013 was 77.3million barrels of oil equivalent.
At the same time we’ve secured our position as a top gas producer on the UK Continental Shelf. Across the UK and the Netherlands we operate 42 fields, of which 23 are producing. We have a non-operated position in a further 33 fields, of which 22 are in production.
We have an established business with operated assets on the Norwegian Continental Shelf, where we have had an excellent exploration success rate. One of our six operated fields is already in production, and we have a non-operated position in 13 fields.
In Canada, we completed the C$1billion acquisition of Suncor’s conventional natural gas assets in 2013 along-side our partners Qatar Petroleum International. The deal means we are now a top ten gas producer in the Western Canadian Sedimentary Basin, operating around 7,000 wells.
In Trinidad & Tobago we have completed an extensive seismic programme and are reviewing the results of two appraisal wells.
5Centrica Energy Our story so far
6Centrica Energy Our story so farAsset book 2014 Asset book 2014
Our Business Outlook
Through 2013 we added 155mmboe in total to our 2P reserves, organically and through acquisition. We also have a number of attractive investment options, particularly in Norway and Canada, having increased our 2C resource base by 28% to 771mmboe over the year. However, with rising costs, in the UK in particular, we are targeting savings to keep unit lifting and other cash production costs flat over the next three years.
Against this backdrop, we are being increasingly selective in our investment, concentrating on the most attrac-tive opportunities. An increasing proportion is expected to be directed towards North America. Taking account of forward UK gas prices and higher costs, we are targeting organic investment in gas and oil projects of approximately £900million on average over the next three years. We expect near-term production to be in the range of 80-85mmboe per annum (220-233mboe/d). Our current level of committed capital expenditure in the short to medium term gives us flexibility to consider acquisition opportunities, if the economics are attractive and the assets provide a good fit with our existing portfolio, while potentially divesting non-core assets for value.
Our recent exploration performance has been strong, particularly in Norway with five successes in the last nine wells. Going forward we have a strong portfolio of prospects at all stages of the development hopper. In the UK and the Netherlands we operate or have an interest in 190 licences, and in Norway we have over 90. Across Canada and Trinidad and Tobago we have over 500mmboe of contingent resources. In Canada we own over one million acres of undeveloped leasehold, and in Trinidad and Tobago we are currently partici- pating in four offshore licences.
Our Buisiness Outlook
* All information correct as of 12 May, 2014.
AMERICAS
NORWAY
UK & NL
TOTAL
20090
20
40
60
80
100
2010 2011 2012 2013 2014e 2015/ 16e
80 mmboe – 85 mmboe range
GLOBAL GAS & OIL PRODUCTION OUTLOOK (MMBOE/A)
7Centrica Energy
8Centrica Energy Asset book 2014 Our Buisiness OutlookAsset book 2014
Regional OverviewCentrica Energy has three core regions in UK & the Netherlands, Norway and Canada, as well as assets in Trinidad & Tobago. Each one has a portfolio of producing assets, developments and exploration potential.
9Centrica Energy
10Centrica Energy Asset book 2014 Asset book 2014Regional Overview Regional Overview
UK and the Netherlands Centrica Energy is one of the top gas producers on the UK Continental Shelf,
and the North Sea will continue to be a key part of our portfolio. We want to maximise value from our existing asset hubs, and we will continue to invest in the North Sea to help it reach its potential.
Our assets in the UK/NL range from Chestnut in the Central North Sea to Markham in the Netherlands and the hugely important Morecambe field in the East Irish Sea. We also have a number of significant developments in progress, including Cygnus and the continued expansion of the York area in the Southern North Sea, and we are building on our Markham hub through the Grove development. Our success in recent licensing rounds is also yielding exciting exploration prospects across the whole region, aimed at building on our existing production hubs or core areas to create value.
2013 PRODUCTION:
99.5(mboe/d) GAS %
83 0.1512.23(£/boe)
2013 DD&A RATE
11.55(£/boe)
2013 UNIT LIFTING AND OTHER CASH
PRODUCTION COSTS
TOTAL RECORDABLE INCIDENT FREQUENCY
UK & the Netherlands
12Centrica Energy
11Centrica Energy UK & the NetherlandsAsset book 2014Asset book 2014
NORTH CENTRAL NORTH SEA Centrica Energy has created considerable value from its operated assets in the Central Northern Sea and they continue to be material contributors to our portfolio. Our key hubs in the region are Trees, Chestnut and Armada, while we also have interests in the Alba, Brae and Beryl assets.
KEY HUBS
TreesThe Trees area comprises the Birch, Larch, Sycamore Central and Sycamore South fields, in which Centrica Energy has a 100% operated interest. Birch, Larch and Sycamore Central, 200km north east of Aberdeen, are subsea developments tied back to the Marathon-operated Brae platform. Sycamore South has been developed using an extended reach well from the CNR-operated Tiffany platform. Further development of Sycamore South, Larch and other potential prospects are currently under evaluation.
Status: Producing oil.
Production*: 1.3mboe/d
ChestnutChestnut was discovered in 1986 by Premier Oil. In 2003, Centrica Energy acquired a 70% interest in the field 200km north east of Aberdeen and became operator. It was brought on-stream in 2008 using the Hummingbird Spirit, the innovative Sevan Marine 300 floating production vessel. A further production
well was drilled in 2009, increasing production and reserves for the field. A side-track of the exist-ing water injection well was drilled in late 2011 to increase injectivity and reservoir pressure and has proven to be very successful. The contract for the Hummingbird Spirit has been extended until 2016, and studies are now underway to evaluate options to optimise production from the field.
Status: Producing oil.
Production: 3.1mboe/d
ArmadaArmada comprises three producing fields: Drake, Fleming, and Hawkins. These have been developed from a single platform, from which producing satellite fields Seymour and Maria have also been developed. Centrica Energy purchased an additional non-oper-ated interest in these assets from Total in 2012 – this increased the company’s interest in Armada from 11% to 23.6%, in Seymour from 18% to 43% and in Maria from 35% to 64%.
Status: Producing – Armada: gas/condensate, Seymour: oil and gas/condensate, Maria – oil and gas
Production: 3.1mboe/d net
OTHER ASSETS
AlbaThe producing facilities consist of the Alba North platform, 210km north east of Aberdeen. There are also two subsea tie-back well manifolds. The field is subject to Petroleum Revenue Tax.
Oil export is by tanker via an associated floating storage unit and Centrica Energy has a non-operated interest of 12.7% in the field, acquired in 2012.
Status: Producing oil.
Production: 2.6mboe/d net
BraeThe Brae complex 200km north east of Aberdeen comprises a number of fields developed using a combination of fixed platform and subsea tie-backs. Gas is exported through the SAGE (Scottish Area Gas Evacuation) system to the SAGE gas plant at St Fergus in Aberdeenshire. Centrica Energy has non-operated interests ranging from 5% to 8% in the fields in the area, and 4% in the SAGE pipeline. The field is subject to Petroleum Revenue Tax.
Status: Producing oil and gas.
Production: 1.9mboe/d net
BerylThe Skene and Buckland fields are subsea develop-ments 230km north east of Aberdeen, tied back to the Apache-operated Beryl complex. Skene is a gas condensate field, while Buckland is an oil producing field. Centrica Energy has a 33.33% non-operated share in both fields and the surrounding acreage.
Status: Producing oil and gas.
Production: 1.2mboe/d net
.Aberdeen
026027 028
029
020
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013
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019
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006
012
009
005
016
025
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018
203
003002
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001
023
206
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207
035
0030205
036033
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Centrica Operated Fields
Centrica Licence Interest
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0 10 20 30 405Miles
¯
Goldeneye
Armada
Appleton
Halley
Brae
Trees
Skene
North Central North Sea
* Unless stated otherwise, all production figures are 2014 estimates.
13Centrica Energy
14Centrica Energy UK & the NetherlandsAsset book 2014UK & the NetherlandsAsset book 2014
SOUTHERN NORTH SEAThe Southern North Sea plays a key role in Centrica Energy’s portfolio. Three significant developments have achieved first gas in the past three years: Ensign (2012), Seven Seas (2012) and York (2013), while first gas at Cygnus – the largest gas discovery in the Southern North Sea in 25 years – is targeted for the end of 2015.
Our key hubs in the Southern North Sea are Greater York, the A Fields and Cygnus, while our other assets in the region include the Western Area, Amethyst, Galleon and Ravenspurn North.
KEY HUBS
Greater YorkThe York gas field (York East, South and South East) is operated and 100% owned by Centrica Energy and utilises existing Centrica Storage Limited (CSL) infrastructure at the Easington Terminal. First gas was achieved in March 2013, and the hub, which is north of the Rough gas storage field, is an important part of our growing footprint in the region. The project involved building and installing a 2,750-tonne unmanned platform, fabricating and laying a 20-mile pipeline, and installing more than 50 pieces of major equipment at the Easington terminal.
There is additional upside potential in the surround-ing exploration acreage that was applied for and awarded in the 26th UK Licensing Round. York West has been added to the prospects inventory. The York platform has been constructed so it can receive gas from adjacent fields, creating a regional Centrica Energy-controlled hub and increasing throughput with further infill, exploration and third party projects to maximise value.
Status: Producing gas
Production: 12.5mboe/d
A FieldsThe area comprises five operated fields for Centrica Energy – Ensign, Ann, Audrey, Alison and Annabel – and lies approximately 100km north east of the Norfolk coast. Audrey is the main gas processing and export hub for the operated fields, with gas exported via the LOGGS (Lincolnshire Offshore Gas Gathering System) pipeline. Ensign, a tight gas reservoir which had remained undeveloped due to its complex nature, was brought on stream in 2012. Potential infill opportunities around Audrey and Annabel are currently being worked on, and further opportunities around Ensign, Ann and Alison have also been identified.
The area also comprises four non-operated produc-ing gas fields - Victor, Saturn, Mimas and Galleon - in which Centrica Energy has an interest of 30%, 22%, 15% and 8.4% respectively. The Victor and Galleon fields are subject to Petroleum Revenue Tax.
Status: Producing gas fields
Production: 6.5mboe/d net
CygnusThe Cygnus field development, 160km north east of the North Norfolk coast, is a non-operated project (Centrica Energy equity 48.75%), which was sanc-tioned in August 2012. It is a core asset for Centrica Energy and we are actively engaged with operator GDF Suez on the project.
The Cygnus hub is made up of two drilling centres, Cygnus Alpha and Cygnus Bravo, for which 10-12 development wells are planned with drilling due to start in 2014. Gas will be exported to the Bacton Terminal for further processing via a new pipeline tied into the existing Eagles Transmission System.
There is significant upside potential in Cygnus and the surrounding acreage, and the development will serve as a hub for the wider area.
Centrica Energy and its partners plan to drill two wells yearly to explore and appraise the area, starting in 2014.
Status: Development project – production targeted late 2015
OTHER ASSETS
Western AreaThis area comprises three operated producing fields developed as subsea tie backs; Seven Seas, Eris and Ceres.
The Seven Seas gas field came online in October 2012. Gas from the field, 60km off the East Yorkshire coast, flows via Perenco’s West Sole Alpha platform before being processed onshore at the company’s Dimlington Terminal at Easington. Planning has started on a second well at the field.
Eris and Ceres, located north west of Dimlington, both came on stream in 2010.
Status: Producing gas
Production: 6.2mboe/d net
AmethystCentrica Energy has a 9% non-operated interest in Amethyst, located north west of the Dimlington Terminal. Future well intervention and brownfield opportunities are currently being reviewed. The field is subject to Petroleum Revenue Tax.
Status: Producing gas
Production: 0.3mboe/d net
Ravenspurn NorthRavenspurn North, where Centrica Energy has a 17.8% interest, is located north west of the Dimlington Terminal. The field is subject to Petroleum Revenue Tax.
Status: Producing gas
Production: 1.6mboe/d
Southern North Sea
048
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Centrica Non-Operated Fields
Centrica Operated Fields
Other Fields
Centrica Licence Interest
0 10 20 30 405Miles
¯
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Cygnus
Markham
A Fields
York
Amethyst
Western Area
Galleon
15Centrica Energy
16Centrica Energy Asset book 2014 Asset book 2014 UK & the NetherlandsUK & the Netherlands
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Petroleum Act 1998
Areas currently under Licence
SCALE 1:900,000
For further details on the UK onshore, contact either:Toni Harvey tel: 0300 068 6037, email: [email protected] Hawkins tel: 0300 068 6038, email: [email protected]
Index to National Grid numbers09
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34
33
32
31
30
49
48
46
47
45
44
43
42
41
40
59
58
57
56
55
54
53
52
51
50
69
68
67
66
65
64
63
62
61
60
79
78
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76
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89
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99
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Gas Field
Oil Field Oil Discovery
Gas Discovery
Mines Gas Developments (active)
0 10 20 30 40 50 60 70 80 90 100 110 Kms
0 10 20 30 40 50 60 70 Miles
M
M
MM
M
MM
M
M
M
M
MM
M
M
M
CAUNTON
PEDL005
PEDL005
EGDON
EGDON
DART
EXL288
DART
EXL288
(Area 1 Fenwick)(Area 1 Rest)
(Area 1 Rest)(Area 2)
(Area 2)
PEDL176DART
PEDL176DART PEDL183
RATHLIN
PEDL179DART
PEDL174DART
PEDL178DART PEDL182
EGDON
PEDL173DART
PEDL180EUROPA PEDL241
EGDON
PEDL181EUROPA
PEDL253EGDON
PEDL169ALKANE
PEDL200DART
PEDL207DART
PEDL210DART PEDL210
DART
PEDL210DART
PEDL210DART
PEDL206EGDON
PEDL208NEWTON
PEDL255ALKANE/NEWTON
PEDL202ALKANE
PEDL203EGDON
PEDL199LOW
PEDL209BLACKLAND
ALKANEPEDL011
ALKANEPEDL011
ALKANEPEDL011
ALKANEPEDL011
ALKANEPEDL011
COURAGEEXL141
SE TA
SK TF
Bilsthorpe Vent
Newmarket Vent
CIRQUEEXL294
Prince of Wales Vent
Cadeby Vent
PEDL001ALKANE
ALKANEPEDL001
ALKANE
EXL288(Area 1 Trumfleet)
Askern Vent
EUROPA
IGAS
IGAS
EGDON
DART
ALKANE
DART
SCOTTISH
DART
IGAS
DART
COURAGE
WINGAS
DART
ALKANE
C.E.
IGAS
COURAGE
DART
IGAS
SCOTTISH
IGAS
DART
COURAGE
COURAGE
EGDON
IGAS
ALTAQUEST
IGAS
IGAS
ALKANE
IGAS
DART
ONSHORE IGAS
EUROPA
ALKANE
IGAS
IGAS
BLACKLAND PA
DART
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
HARWORTH
ALKANE
ALKANE
ALKANE
ALKANE
ALKANE
EUROPA OIL & GAS (WEST FIRSBY) LTD
ALKANE
BLACKLAND PA
PEDL011
PEDL150
PEDL140
PL162
PL179
PEDL146
PEDL139
PEDL130
PEDL006
EXL288
PEDL043
EXL294
PL162
PL161
EXL290
ML004
ML003
PEDL006
PEDL090
PEDL012
PEDL005ML004
EXL141
PEDL090
PL161
EXL141
ML007
ML006
ML004
DL001
AL009
PEDL118
EXL288
PL215
PL213
DL003
PL199
PL199
PL179
PL178
EXL288
EXL250
PEDL001
PEDL001
PEDL001
PEDL001
PEDL037
PEDL037
PEDL037
PEDL001
PEDL037
PEDL037
PEDL037
PEDL037
PEDL001
PEDL001
PEDL001
PEDL001
PEDL037
PL215
PEDL037
Markham Vent
Whitwell Vent
Wheldale Vent
Kilnhurst Vent
Hickleton Vent
MonkBrettonVent
Old Mill Lane Vent
Shirebrook Vent
Bevercotes Vent
Annersley Bentinck Vent
BECKINGHAM
WELTON
HATFIELD
KEDDINGTON
EGMANTON
SALTFLEETBY
WHISBY
HATFIELD
COLD HANWORTH
TRUMFLEET
EAKRING
CALOW
GLENTWORTH
BRIGG
CORRINGHAM
STAINTON
EVERTON
TORKSEY
REEPHAM
BROUGHTON
SCAMPTON
KELHAM HILLS
NETTLEHAM
BECKERING
FISKERTON AIRFIELDNEWTON-ON-TRENT
CROSBY WARREN
WEST FIRSBY
IRONVILLE
SCAMPTON NORTH
FARLEYS WOOD
EAST GLENTWORTH
BOTHAMSALL
HEMSWELL
SOUTH LEVERTON
KIRKLINGTON
LINCOLNSHIRE
NOTTINGHAMSHIRE
EAST RIDING OF YORKSHIRE
DONCASTER
NORTH LINCOLNSHIRE
DERBYSHIRE
NORTH YORKSHIRE
YORK
LEEDS
ROTHERHAM
WAKEFIELD
BARNSLEY
SHEFFIELD
NORTH-EAST LINCOLNSHIRE
KINGSTON-UPON-HULL
440000
440000
445000
445000
450000
450000
455000
455000
460000
460000
465000
465000
470000
470000
475000
475000
480000
480000
485000
485000
490000
490000
495000
495000
500000
500000
505000
505000
510000
510000
515000
515000
520000
520000
525000
525000
530000
530000
535000
535000
540000
540000
545000
545000
550000
550000
350000 350000
355000 355000
360000 360000
365000 365000
370000 370000
375000 375000
380000 380000
385000 385000
390000 390000
395000 395000
400000 400000
405000 405000
410000 410000
415000 415000
420000 420000
425000 425000
430000 430000
435000 435000
440000 440000
445000 445000
450000 450000
0 5 10 15 20 25 30 35 40 Kms
0 5 10 15 20 25 Mls
SCALE 1:250,000
M
Onshore Licensing1 March 2014
Coal Bed Methane Field
Gas Storage Location
County and Unitary Authority Boundaries
© Crown copyright 2014.Contains Ordnance Survey data © Crown Copyright and database right 2014.You may re-use this information (not including logos)free of charge in anyformat or medium, under the terms of the Open Government Licence.To view this licence, visit www.nationalarchives. gov.uk/doc/open-government-licence/or write to the Information Policy Team, The National Archives, Kew, LondonTW9 4DU, or email: [email protected] enquiries regarding this publication should be sent to us [email protected] document is also available from our website athttps://www.gov.uk/oil-and-gas-onshore-maps-and-gis-shapefiles
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Centrica Non-Operated Fields
Centrica Operated Fields
Centrica Licence Interest
Other Fields0 4 8 12 162
Miles
¯
Rhyl
South Morecambe
North Morecambe
Knox
Lowry
Bains
! Barrow Terminals
Bowland ShaleMorecambe Bay
MORECAMBE BAY The combined fields of Morecambe Bay remain a cornerstone asset for Centrica Energy, offering unique flexibility, and the area continues to provide a significant portion of the UK’s gas supply. Since 2009, Centrica Energy has embarked on an explo-ration and appraisal programme in Morecambe Bay to establish the remaining potential of the area. Five exploration and appraisal wells have been drilled and the first 3D seismic survey over the South Morecambe field in over 30 years has been com-pleted. In March 2013, the Rhyl field was brought into production, further maximising the use of the existing infrastructure, while we have development options at Knox and Lowry. We also operate the Bains field, named after the late John Bains in recognition of his work to discover the huge gas reserves in Morecambe Bay. The hub is now focused on deliv-ering three one-well subsea tie-back developments by 2016, and exploring the remaining exploration potential underneath the South Morecambe field.
South MorecambeThe field was originally discovered in 1974, with first production in 1985. South Morecambe, 39km west of Barrow-in-Furness, is entirely owned and operated by Centrica Energy.
The field has been developed using seven fixed jacket platforms and over 35 development wells. Gas is exported via a 36” dedicated pipeline to the Barrow Gas Terminals, which are also operated by Centrica Energy.
South Morecambe was the company’s first pro-ducing field, and ongoing processing and interpre-tation of seismic surveys will support decisions on
extending its life further with potential infill drilling. Work on a well intervention programme is also underway to maximise near-term production. The field is subject to Petroleum Revenue Tax.
Status: Producing gas.
Production: 23.5mboe/d
North MorecambeNorth Morecambe was discovered in 1976, with first gas in 1994. It is entirely owned and operated by Centrica Energy.
The field, which is adjacent to the South Morecambe field, also acts as the main transportation hub for the area. The Rivers, Millom and Dalton fields, operated by ConocoPhillips, are tied back to the normally-un-manned North Morecambe platform.
There is potential for further satellite developments to produce through this complex and a well interven-tion programme is ongoing to maximise near-term production from the field.
Status: Producing gas field and transportation/pro-cessing hub.
Production: 3.4mboe/d
RhylRhyl was discovered in 2009 by Centrica Energy and brought into production in March 2013. Rhyl, which is north of the North Morecambe field, has been devel-oped as a two-well subsea tie-back to the North Morecambe platform.
In 2013 Centrica Energy successfully drilled the Whitehaven appraisal well, discovering further gas reserves 3km to the south of the Rhyl field. The Whitehaven well is currently awaiting a final invest-ment decision for development.
Status: Producing gas.
Production: 2.8mboe/d
OTHER ASSETSBowland ShaleIn June 2013, Centrica Energy signed an agreement with Cuadrilla Resources to acquire 25% of its PEDL 165 exploration licence and 22.75% of its EXL 269 licence for the Bowland shale area in Lancashire, North West England. The licence itself covers an area in the region of 1,200km2 near Blackpool on the Fylde coast. EXL 269 is contained with PEDL 165 and covers the Elswick gas field, a conventional gas field which came on stream in 1997 and is currently not producing.
Further drilling will be required to better understand the commercial viability of the discovery, but initial data suggests that there could be up to 200 trillion cubic feet of gas within the licence area.
Status: Exploration project.
17Centrica Energy Our story so far
18Centrica Energy Our story so farAsset book 2014 Asset book 2014 UK & the NetherlandsUK & the Netherlands
.
. Hoofddorp
Den Helder
F
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K
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M
A
Q
049
G
044
C
053
B038
B
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054
5505
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039 D
H
050
O
Centrica Non-Operated Fields
Centrica Operated Fields
Centrica Licence Interest
Other Fields
0 10 20 30 405Miles
¯
Markham
F3-FANETHERLANDS Centrica Energy operates two key hubs in the Dutch North Sea, the Greater Markham Area (GMA) and F3-FA, from its Hoofddorp office in the Netherlands.
Greater Markham Area (GMA)The GMA hub comprises of the Markham, Chiswick, Grove and Kew fields. Centrica Energy also has non-operated interests in the Windermere and J3C fields within the GMA. The Markham J6-A platform serves as the processing hub for the GMA fields.
Markham was discovered in 1987 by Ultramar and production began in 1992. Centrica Energy acquired 37.5% equity in the unitised field through the Venture transaction in 2009. All production is transported via the Westgastransport (WGT) pipeline system to the Den Helder gas processing plant.
Chiswick was discovered in 1984, with Centrica Energy acquiring 100% equity in the field through the Venture transaction. The field was developed using hydraulic fracturing of long horizontal wells and came on stream in 2007. There are now four operational wells.
Grove was discovered in 1971, with Centrica Energy becoming the operator when it acquired an 85% stake through the acquisition of Newfield Petroleum in 2007. The company acquired a further 7.5% from Sojitz in 2008. The field was brought on stream in 2007.
Kew was discovered in 1988 by Ultramar and Centrica Energy acquired 100% equity in the field in 2006. An appraisal well was drilled in 2009, with a further development well drilled in 2013. The subsea well is tied back to the Chiswick platform and pro-duction commenced in January 2014.
Status: Producing gas
Production: 22.3mboe/d net
F3-FAThe F3-FA field was originally discovered in 1971 by NAM, but not developed due to its geological com-plexity and challenging economics. Centrica Energy acquired operatorship through the Venture trans-action and the company now holds a 58% working interest in the field. The F3-FA field came on stream in January 2011 via the largest self-installing platform in the North Sea, and current production from the field comes via a single development well. Gas from the field is transported via the Northern Offshore Gas Transport (NOGAT) pipeline to the Den Helder gas processing plant. F3-FA has been named the richest well in the Dutch offshore sector for two consecutive years.
Status: Producing gas
Production: 4.7mboe/d net
Netherlands
19Centrica Energy
20Centrica Energy Asset book 2014 Asset book 2014 UK & the NetherlandsUK & the Netherlands
ASSET CE E&P %
OPERATOR STATUS PRODUCTION(actual 2013, mboe net)
RESERVES(end 2013, net mboe)
NORTH CENTRAL NORTH SEA
Greater Kittiwake Area 899 3,759 2P
- Kittiwake 0.00 CE E&P Sold 28/02/14 61
- Goosander 0.00 CE E&P Sold 28/02/14 341
- Grouse 0.00 CE E&P Sold 28/02/14 313
- Mallard 0.00 CE E&P Sold 28/02/14 183
Trees Area 325 1,750 2P
- Birch 100.00 CE E&P Producing 161
- Larch 100.00 CE E&P Producing 14
- Sycamore 100.00 CE E&P Producing 150
Chestnut Area 1,661 3,330 2P
- Chestnut 69.88 CE E&P Producing 1,661
MORECAMBE BAY
South Morecambe Area
10,979 50,963 2P
- South Morecambe 100.00 CE E&P Producing 10,979
- Bains 86.80 CE E&P Currently shut in 0
North Morecambe Area
1,814 24,501 2P
- North Morecambe 100.00 CE E&P Producing 1,233
- Rhyl 100.00 CE E&P Producing 581
SOUTHERN NORTH SEA
A Fields Area 1,523 10,008 2P
- Annabel 100.00 CE E&P Producing 637
- Audrey 100.00 CE E&P Producing 33
- Ann/Alison 100.00 CE E&P Currently shut in 0
- Ensign 100.00 CE E&P Producing 854
ASSET CE E&P %
OPERATOR STATUS PRODUCTION(actual 2013, mboe net)
RESERVES(end 2013, net mboe)
Western Area 4,198 22,230 2P
- Eris 54.00 CE E&P Producing 282
- Ceres 90.00 CE E&P Producing 754
- Seven Seas 90.00 CE E&P Producing 808
- York 100.00 CE E&P Producing 2,355
NETHERLANDS
Greater Markham Area 7,010 48,311 2P
- Markham 37.53 CE E&P Producing 159
- Chiswick 100.00 CE E&P Producing 5,170
- Grove 92.50 CE E&P Producing 1,681
- Kew 100.00 CE E&P Producing (Jan 2014)
0
Nothern Fields 2,011 4,850 2P
- F3-FA 58.00 CE E&P Producing 2,011
UK/NL OPERATED ASSETSPRODUCING ASSETS PRODUCING ASSETS
21Centrica Energy Our story so far
22Centrica Energy Our story so farAsset book 2014 Asset book 2014 UK & the NetherlandsUK & the Netherlands
ASSET CE E&P %
OPERATOR STATUS PRODUCTION(actual 2013, mboe net)
RESERVES(end 2013, net mboe)
NORTH CENTRAL NORTH SEA
Armada Area 2,037 1,871 2P
- Armada 23.58 BG Producing 890
- Maria 64.00 BG Producing 605
- Seymour 43.00 BG Producing 542
Beryl Area 594 1,927 2P
- Skene 33.33 ExxonMobil Producing 452
- Buckland 33.33 ExxonMobil Producing 142
Brae Area 754 3,607 2P
- Brae West 8.00 Marathon Producing 219
- Brae NSC 8.00 Marathon Producing 189
- Brae East 7.32 Marathon Producing 280
- Brae Beinn 8.00 Marathon Producing 19
- Braemar 5.00 Marathon Producing 47
- SAGE 4.00 Mobil Pipeline & Terminal
NA
Other Areas 784 5,703 2P
- Alba 12.65 Chevron Producing 751
- Halley 40.00 Talisman Producing 33
SOUTHERN NORTH SEA
A Fields Area 1,023 4,567 2P
- Saturn 22.00 ConocoPhillips Producing 532
- Victor 30.00 ConocoPhillips Producing 280
- Galleon 8.40 Shell Producing 174
- Mimas 15.00 ConocoPhillips Producing 37
Western Area 654 1,905 2P
- Ravenspurn North 17.75 BP Producing 363
- Babbage 0.00 Eon-Rhurgas Sold 09/09/13 158
- Amethyst E&W 8.95 BP Producing 133
ASSET CE E&P %
OPERATOR STATUS PRODUCTION(actual 2013, mboe net)
RESERVES(end 2013, net mboe)
Southern Area 23 41 2P
- Davy East 40.00 Perenco Producing 14
- Thames 10.00 Perenco Shut in 9
NETHERLANDS
Greater Markham Area 41 181 2P
- Windermere 20.00 RWE Dea Producing 16
- J3aC 4.03 Total Producing 24
ASSET CE E&P %
OPERATOR STATUS KEY MILESTONES
(anticipated year)
2C RESOURCES(net mboe)
SOUTHERN NORTH SEA
- Cygnus 48.75 GDF Current Project First Prod 2015 61,862 (inc. 52,662 2P)
- Olympus 100.00 CE E&P Development Option 5,321 2P
- Annabel Infill 100.00 CE E&P Development Option First Prod 2015 9,000
- York 100.00 CE E&P Appraisal 12,600
-Ravenspurn North 17.75 BP Development 4,700
- Pegasus 55.00 CE E&P Discovery 5,900
- Humphrey 40.00 GDF 1,200
CENTRAL AND NORTHERN NORTH SEA
- Chestnut Infill 69.88 CE E&P Development Option 10 800
MORECAMBE BAY
- Lowry 100.00 CE E&P 2,900
- Knox 100.00 CE E&P 4,600
NETHERLANDS
- Grove infill 92.50 CE E&P Development Option 8,988
- Grove NE 92.50 CE E&P Development Option 9,512
PRODUCING ASSETS PRODUCING ASSETS
DEVELOPMENT ASSETS
UK/NL NON-OPERATED ASSETS
23Centrica Energy Our story so far
24Centrica Energy Our story so farAsset book 2014 Asset book 2014 UK & the NetherlandsUK & the Netherlands
NorwaySince entering Norway in 2006, Centrica Energy has built an established business on the Norwegian Continental Shelf. We have had several years of successful growth through acquisitions, discoveries and a high number of licence awards and now have a portfolio of operated and non-operated assets.
Centrica Energy has non-operated interests in major Norwegian fields such as Statfjord and Kvitebjørn, and also operates the Vale field with 50% equity. We have an interest in more than 60 licences, and we are currently participating in a seven-well drilling programme, of which three are operated by Centrica Energy.
Phot
o: O
yvin
d H
agen
, Sta
toil
13.95(£/boe)
2013 DD&A RATE65.5 (mboe/d) GAS %
54 14.30(£/boe)
2013 UNIT LIFTING AND OTHER CASH
PRODUCTION COSTS
2013 PRODUCTION:
1.11TOTAL RECORDABLE
INCIDENT FREQUENCY
Norway
25Centrica Energy
26Centrica Energy Asset book 2014 Asset book 2014 Norway
PRODUCING ASSETS
Vale The Vale field is the first producing field operated by Centrica Energy on the Norwegian Continental Shelf. The operatorship was transferred to Centrica Energy in 2012.
Vale, around 80km west of Stavanger, is a gas/con-densate field developed via a single subsea well tied back by a 16km pipeline to the Heimdal Gas Centre. Production of Vale commenced in 2002, and the initial life of the field was anticipated to be 10 years. The authorities have recently given consent for a lifetime extension for Vale to June 2021.
In 2013 Centrica Energy divested 25.80% of its interest to LOTOS, and now holds 50% equity in the Vale field.
Status: Producing gas/condensate
Production: 5.5mboe/d net
Heimdal Heimdal was discovered in 1972 and production started in 1986. The Heimdal field and facilities, around 80km west of Stavanger, are currently oper-ated by Statoil. In 2000, the facilities were converted to enable processing of third party gas and now all production comes from third party fields. The Heimdal facilities consist of two platforms, a riser platform and the Heimdal Gas Centre. The Heimdal Gas Centre is an integral part of the Gassled gas export system and is connected to landing points both in the UK (St. Fergus) and Europe. Condensate is exported to Brae and on to Cruden Bay in the UK via the Forties Pipeline System.
Centrica Energy acquired Marathon’s equity in Heimdal, Skirne and Peik in 2008 and further increased its equity in 2012 through its acquisition from Statoil. After the divestment to LOTOS in 2013,
Centrica Energy’s Heimdal share was reduced from 33.8% to 28.8%. From late 2014, the Heimdal facili-ties will also process rich gas from the Valemon field.
Status: All Heimdal production wells were shut in November 2011. The satellite fields are all producing.
Statfjord Statfjord, 180km west of Sognefjord in Norway, was discovered by Mobil in 1974 and has been producing since 1979. By the end of 2013, the field had pro-duced in excess of 5billion barrels of oil equivalent.
The field is operated by Statoil and Centrica Energy currently owns a 34.3% interest in the field as well as interests in the Statfjord Nord, Statfjord Øst and Sygna satellite fields. The lifetime of Statfjord A has been extended to 2020 from 2017. The field straddles the UK and Norwegian sectors of the North Sea, and the UK area of the field is subject to Petroleum Revenue Tax.
Status: Producing oil & gas
Production: 24.2mboe/d net
Kvitebjørn The Kvitebjørn field is a high pressure, high temper-ature field that was discovered by Statoil in 1994, with production commencing in 2004. It is located in the Viking Graben, east of the Gullfaks fields, and Centrica Energy acquired a 19% non-operated inter-est from Statoil in 2012.
Kvitebjørn has been developed with a combined processing, drilling and living quarters platform. Condensate is exported via a dedicated 16” pipeline to the Troll oil pipeline and then on to the Mongstad Terminal. Rich gas is exported via a dedicated 26” pipeline to Kollsnes for gas and NGL processing and is exported from Kollsnes to the UK and Europe. Additional infill drilling is ongoing and will include one well at the Kvitebjørn East reservoir segment. The outcome of the well may trigger further development of the Kvitebjørn East structure.
Status: Producing gas and condensate.
Production: 26.8mboe/d net
Stavanger
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Centrica Non-Operated fields
Centrica Operated Fields
Other Fields
Centrica Licence Interest
0 10 20 30 405Miles
¯
Valemon
Peik
Frigg
Heimdal
Vale
Kvitebjørn
Statfjord
Norway
27Centrica Energy
28Centrica Energy Asset book 2014 Asset book 2014 NorwayNorway
DEVELOPMENTSValemon Valemon is a high pressure, high temperature development operated by Statoil. Centrica Energy acquired a 13% non-operated interest from Statoil in 2012. The development concept is a fixed steel production platform with a simplified separation process, with the platform remotely controlled from the nearby Kvitebjørn field or from shore.
Condensate will be exported to Kvitebjørn, while rich gas will be exported via the Huldra/Heimdal system and processed at Heimdal.
The Valemon North exploration well was spudded in September 2013, with results expected in 2014.
Status: Development project - first production planned for early 2015.
Maria The Maria field was discovered by Wintershall in 2010. The exploration well in Maria South encoun-tered light oil, and the Maria North structure was subsequently successfully appraised in 2012. Maria, southeast of the Åsgard field in the Norwegian Sea, is operated by Wintershall (50%), while Centrica Energy is a partner with 20%.
The field development plan and final investment deci-sion are both scheduled for late 2014.
Status: Development project – first production expected in 2018 subject to final investment decision.
Butch Centrica Energy is the operator of the Butch licence with a 40% interest. An exploration well at Butch, located 220km off the Norwegian coast, was drilled in the second half of 2011.
Further drilling is currently ongoing to prove up addi-tional volumes on the Butch structure, and concept select is planned for late 2014.
Status: Development project - first production expected in 2018 subject to final investment decision.
Frigg Gamma Delta (FGD) Centrica Energy acquired 40% of PL442 from Statoil in 2012 and the block contains two undeveloped dis-coveries, Gamma and Delta, collectively called Frigg Gamma Delta (FGD). The FGD field is predominantly an oil discovery that is located north east of Heimdal.
Further studies of the FGD development in 2013 increased the expected recoverable volumes and reduced the projected capital expenditure, making a standalone development of the FGD field a poten-tially attractive option.
Located in an area with several smaller oil and gas discoveries, Centrica Energy is also exploring the potential upsides of a coordinated development of one or more of the additional discoveries alongside FGD. Concept selection is planned for 2015, followed by a field development plan and final investment decision in 2016.
In 2013 Centrica Energy divested 10% of its interest in FGD to LOTOS, but remains operator of the field.
Status: Development project
Fogelberg Fogelberg was Centrica Energy’s first operated exploration well in Norway. It was drilled in 2010 and discovered high pressure, high temperature gas condensate. Centrica Energy has a 40% interest in Fogelberg, located 18km north of Åsgard and 30 km south of Heidrun. A concept select decision is expected mid-2014.
Status: Development project - first production expected in 2019 subject to final investment decision.
29Centrica Energy Asset book 2014 Norway
NORWAY ASSETS
ASSET CE E&P % OPERATOR STATUS PRODUCTION(actual 2013, mboe net)
RESERVES(end 2013, net mboe)
STATFJORD AREA 10,014 79,141 2P
- Statfjord UK 100.00 CE E&P Producing 3,991
- Statfjord Norway 23.12 Statoil Producing 5,396
- Statfjord Øst 11.56 Statoil Producing 311
- Statfjord Nord 23.12 Statoil Producing 266
- Sygna 12.71 Statoil Producing 49
HEIMDAL AREA 2,858 6,476 2P
- Heimdal 28.80 Statoil Sold 30/12/13 0
- Vale 50.00 CE E&P+ (Statoil)
Producing 1,599
- Skirne 0.00 Total Sold 30/12/13 1,049
- Atla 0.00 Total Sold 30/12/13 211
KVITEBJØRN 11,039 75,468 2P
- Kvitebjørn 19.00 Statoil Producing 11,039
ASSET CE E&P %
OPERATOR STATUS KEY MILESTONES(anticipated year)
2C RESOURCES
(net mboe)
KVITEBJØRN AREA 49,709 (inc. 21,408 2P)
- Valemon 13.00 Statoil Current Project First prod 2015 21,408 2P
- Kvitebjørn Øst 19.00 Statoil Current Project First prod 2015 14,300
- Kvitebjørn second stage compression
19.00 Statoil Development Option
6,800
- Nokken 19.00 Statoil Discovery 7,200
OTHER AREAS 111,320
(inc. 49,220 2P)
- Maria 20.00 Wintershall Development Option
FID 2014 28,680 2P
- Butch 40.00 CE E&P Recent Discovery Discovered 2011 20,538 2P
- Frigg Gamma Delta 30.00 CE E&P Development Option
29,800
- Fogelberg 28.00 CE E&P Development Option
FID 2017 23,800
- Rind 30.00 Total Development Option
8,500
PRODUCING ASSETS DEVELOPMENTS
31Centrica Energy
32Centrica Energy Asset book 2014 Asset book 2014 NorwayNorway
Canada is Centrica Energy’s newest region and is experiencing significant growth after the transformational acquisition of Suncor Energy’s Canadian onshore conventional assets. Centrica Energy entered into a partnership with Qatar Petroleum International (QPI) to acquire the assets with Centrica Energy holding a 60% interest, making us a top ten gas producer in the Western Canadian Sedimentary Basin.
Over the last three years, our Canadian business has grown from a predominantly shallow gas producer to having a broad portfolio of assets which reside within five large, mainly operated regions; South, North, Hanlan-Robb, Foothills and Peace River Arch.
In May 2014, Centrica agreed to sell 40% of its wholly owned Canadian natural gas business to QPI, fully aligning the partners’ interests in the region.
6.20(£/boe)
2013 DD&A RATE35.7 (mboe/d) GAS %
90 11.29(£/boe)
2013 UNIT LIFTING AND OTHER CASH
PRODUCTION COSTS
2013 PRODUCTION:
0.14TOTAL RECORDABLE
INCIDENT FREQUENCY
34Centrica Energy Asset book 2014 Canada
33Centrica Energy Asset book 2014
Canada
Canada
South Region The South region consists primarily of mature, shallow gas producing assets in south east Alberta and south west Saskatchewan. Centrica Energy operates all of these assets, located 250km south east of Calgary and consisting of over 5,000 pro-ducing shallow gas wells. The main fields include Alderson, Medicine Hat and SW Saskatchewan.
The gas is produced at sales quality and requires only compression, with no further processing. The region has been developed over several decades through densely drilled vertical wells.
Centrica Energy’s initial focus is on the Alderson field, which realises higher initial production rates for new wells compared with other fields in the area. Further development through infill drilling in the other fields will take place in the future.
Status: Producing gas
Production: 13mboe/d
North RegionThe North region consists of a wide variety of fields, including the gas-dominated areas of Carrot Creek, Gilby and Shallow Gas/Coal Bed Methane (CBM), and the oil-dominated areas of Ferrier and Cym Pem.
The majority of this region in Central Alberta - cov-ering a 160,000km2 area - is operated by Centrica Energy. The infrastructure in the area includes gas processing facilities at Ferrier, Gilby, Carrot Creek, Watelet and Wood River, as well as oil facilities at Ferrier.
The North region is expected to be the most active for near- and medium-term development, including projects in the Gilby and Carrot Creek areas.
Status: Producing oil, gas and gas liquids
Production: 14.5mboe/d
Hanlan-Robb RegionThe Hanlan-Robb region 180km south west of Edmonton consists exclusively of newly-acquired Suncor assets, mostly operated by Centrica Energy. Production is primarily sour gas from the deep carboniferous Turner Valley formation, with addi-tional gas production from multiple Jurassic and Cretaceous aged formations.
Centrica Energy also operates large gas processing facilities in the Hanlan area, and has both sour and sweet gas processing capability.
Plans are underway to expand the sweet gas pro-cessing capability at the Hanlan-Robb plant due to the significant industrial activity in the region, and Centrica Energy is currently assessing its level of participation in the expansion.
Status: Producing oil and gas.
Production: 12.2mboe/d
Foothills RegionThe Foothills region in south west Alberta includes four major areas – Wildcat Hills, Burnt Timber, Panther and Crossfield. All production is operated, with the exception of some minor assets in the Panther field. The majority of the gas production is from the deep carboniferous Turner Valley forma-tion, with additional liquids-rich gas from shallower Cretaceous zones. Centrica Energy wholly owns and operates the Wildcat Hills gas plant (125 mmcf/d capacity).
Centrica Energy’s near-term focus will be on devel-oping significant upside potential in the Turner Valley formation in both the Wildcat Hills and Panther fields.
Status: Producing gas.
Production: 15.3mboe/d
Peace River Arch RegionOther than a few minor assets, this vast, 480km region parallel to the Alberta-British Columbia pro-vincial boundary consists of newly-acquired assets from Suncor. There are eight major producing areas in the region, predominantly operated by Centrica Energy, with one residing in Alberta (Glacier) and the remainder in British Columbia – Grizzly, Boundary Lake, Parkland, Laprise, Bougie, Clarke Lake and Yoyo. Following the Suncor transaction, Centrica Energy now owns and operates four gas plants in the Progress, Parkland and Boundary Lake areas. The Glacier, Boundary and Parkland fields have significant development opportunities in the Doig and Montney formations, which are being success-fully developed through horizontal well, multi-stage fracturing techniques. This area has the potential for development over several years.
Status: Producing gas
Production: 11mboe/d
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36Centrica Energy Asset book 2014 Asset book 2014 CanadaCanada
Carrot Creek
Wood River
Medicine Hat
Ferrier/GilbyHanlan-Robb
Alderson
GlacierBoundary Lake
Clarke Lake
Grizzly
Laprise
Wildcat HillsCalgary
WCSB
Centrica acreage
Canada
37Centrica Energy Asset book 2014 Canada
CANADA ASSETSPRODUCING ASSETS PRODUCING ASSETS
ASSET CE E&P % OPERATOR STATUS PRODUCTION (Anticipated 2014,
gross mboe)
2P RESERVES(End 2013 net mboe)
SOUTH REGION 72.6 4,751 55,241
Medicine Hat 76.9 CE Producing 3,278
Alderson 71.6 CE Producing 1,274
SW Saskatchewan 36.8 CE Producing 195
Other South Areas 9.8 CE Producing 4
NORTH REGION 64.1 5,356 55,986
Ferrier 94.0 CE Producing 1,296
Shallow Gas/CBM 56.2 CE Producing 1,286
Carrot Creek 69.8 CE Producing 991
Gilby 49.7 CE Producing 734
Craigmyle 79.6 CE Producing 316
Cyn Pem 58.3 CE/Vermillion Producing 228
Other North Areas 37.4 CE/Others Producing 505
HANLAN-ROBB REGION
48.5 4,475 55,986
Stolberg 54.0 CE Producing 2,555
Hanlan 51.7 CE Producing 1,901
Other Hanlan Areas 16.7 CE/Others Producing 19
FOOTHILLS REGION 63.2 5,689 55,986
Wildcat Hills 94.3 CE Producing 3,479
Panther 51.3 CE/Shell Producing 1,042
Burnt Timber 62.9 CE Producing 794
Crossfield 58.5 CE Producing 243
Other Foothills Areas 42.1 CE/Others Producing 131
ASSET CE E&P % OPERATOR STATUS PRODUCTION (Anticipated 2014,
gross mboe)
2P RESERVES(End 2013 net mboe)
PEACE RIVER ARCH REGION
69.2 4,085 39,838
Glacier 77.5 CE Producing 741
Grizzly 46.2 CE/Others Producing 710
Boundary 71.9 CE/Others Producing 583
Parkland 35.5 CE/Others Producing 163
Laprise 100.0 CE Producing 1,126
Bougie 100.0 CE Shut-in 0
Clarke Lake 71.7 CE/Others Producing 684
Yoyo 78.2 CE/Others Shut-in 0
Other PRA Areas 52.8 CE/Others Producing 78
TOTAL REGION (Including QPI share)
263,035
TOTAL REGION (Excluding QPI share) *
210,153
* In May 2014, CE agreed to sell 40% of its wholly owned Canadian natural gas business to QPI.
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40Centrica Energy Asset book 2014 Asset book 2014 CanadaCanada
Trinidad and Tobago Centrica Energy has built a sizeable business in Trinidad & Tobago (T&T) since 2009,
when its first production sharing contract (PSC) was signed. The T&T portfolio includes non-operated production at NCMA-1 (North Coast Marine Block), as well as operated exploration and development positions in Block 22, NCMA-4 and Blocks 1a and 1b. In 2013, Centrica Energy carried out a two-well appraisal drilling programme in Block 22 and NCMA-4, and the results from these wells are currently being evaluated.
5.86(£/boe)
2013 DD&A RATE10.9 (mboe/d) GAS %
100 4.37(£/boe)
2013 UNIT LIFTING AND OTHER CASH
PRODUCTION COSTS
2013 PRODUCTION:
0TOTAL RECORDABLE
INCIDENT FREQUENCY
Trinidad & Tobago
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42Centrica Energy Asset book 2014 Asset book 2014 Trinidad & Tobago
PRODUCING ASSETSNCMA-1NCMA-1 is located 60km north of Trinidad andcontains six gas fields. They were discovered inthe late 1970s and early 1980s, and were broughton stream in 2002. Centrica Energy has a 17.3%interest in NCMA-1. The NCMA fields have been developed through two platforms, and a 107km pipeline runs from the fields to Atlantic LNG at Point Fortin. Status: Producing gas
Production: 11.2mboe/d net
DEVELOPMENTSBlock 22Centrica Energy holds a 90% interest in Block 22, located 25km north of Tobago. The block holds two gas discoveries, Cassra and Sancoche, as well as significant further exploration potential. Resource estimates are currently being finalised following appraisal drilling in 2013.
Status: Development project
NCMA-4NCMA-4, 80% owned by Centrica Energy, lies 50km west of Tobago and holds two gas discoveries, Orchid and Iris. The development also has significant exploration potential in the Jasmine prospect. The Iris field was appraised in 2013 and new discoveries were made in Iris deep sands. Fields and prospects in NCMA-4 will be developed jointly with Block 22, with a sharing of export infrastructure to the destina-tion market.
Status: Development project
Blocks 1a and 1bBlocks 1a and 1b are located 20km west of Trinidad in the Gulf of Paria. Block 1a contains three gas discoveries, while Block 1b holds an exploration prospect. The fields are close to existing onshore infrastructure and negotiations are ongoing with local gas buyers to commercialise the resources on these PSC blocks.
Status: Development project
Trinidad & Tobago
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44Centrica Energy Asset book 2014 Asset book 2014Trinidad & Tobago Trinidad & Tobago
TRINIDAD & TOBAGO ASSETSPRODUCING ASSETS GLOSSARY
2C Resources: Already discovered P50 contingent resource
2P Reserves: Proven and probable reserves
boe: Barrel of oil equivalent
CE E&P: Centrica Energy Exploration & Production
DD&A: Depreciation, depletion & amortisation
FEED: Front End Engineering & Design
FID: Final Investment Decision
GMA: Greater Markham Area
Lifting cost: Field operating costs, including tariff
LNG: Liquefied Natural Gas
mboe: Thousands of barrels of oil equivalent
mmboe: Millions of barrels of oil equivalent
mmscf/d: millions of standard cubic feet of gas per day
Net: Centrica equity share
NCMA: North Coast Marine Area licence blocks in Trinidad and Tobago
NOGAT: Northern Offshore Gas Transport
NUI: Normally Unmanned Installation
P50 Resources: Best estimated remaining life of field production from a development/opportunity.
PRT: Petroleum Revenue Tax
Prospective resources: Estimated undiscovered resources from exploration
PSC: Production Sharing Contract
Remaining recoverable resources: The total estimated volumes to be produced
T&T: Trinidad and Tobago
Total Recordable Incident Frequency (TRIF): Total recordable injury cases per 100,000 hours worked.
WGT: West Gas Transport system in the Netherlands
WCSB: Western Canadian Sedimentary Basin
ASSET CE E&P %
OPERATOR STATUS PRODUCTION(Actual 2013, mboe net)
RESERVES(end 2013, net mboe)
NORTH COAST MARINE AREA - NCMA 1 17.31 BG Producing 3,982 21,355 2P
DEVELOPMENT ASSETS
ASSET CE E&P %
OPERATOR STATUS KEY MILESTONES(anticipated year)
2C RESOURCES(net mboe)
- Block 22 (Cassra, Sancoche & Iris)
90.00 CE E&P Development Option
139,600
- Block 1a & 1b (Anole, Iguana, E&W Zandolie)
80.00 CE E&P Development Option
30,000
- NCMA 4 (Orchid & Iris)
80.00 CE E&P Development Option
24,400
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46Centrica Energy Asset book 2014 GlossaryAsset book 2014 Trinidad & Tobago
Centrica Energy iQ Building
15 Justice Mill Lane Aberdeen AB11 6EQ
Main switchboard Tel: +44 (0)1224 415000
Centrica Energy corporate affairs Tel: +44 (0)1753 494086
Centrica plc investor relations Tel: +44 (0)1753 494900
www.centricaenergy.com/upstream