Bosses at Decipher Energy, of Aberdeen, have said they could intervene to help the 10 million barrel Orlando field reach its full potential.
The field came on stream at the end of March and is capable of producing more than 10,000 barrels per day (bpd).
However, issues with the “upper completion” on the well have restricted output to 5,000 bpd.
Decipher said: “We are reviewing whether a workover may be required to deliver the planned peak production rates from the field.
“The Orlando estimated 2P recoverable reserves remain unchanged at circa 10m barrels.”
Decipher – led by Steve Bowyer, a former boss of now-defunct Aberdeen company First Oil – acquired an initial 75% of the field in April 2017 when it struck a deal with the administrators of Iona Energy, a Granite City firm which folded the previous year after failing to restructure its finances.
The company snapped up the remaining 25% of Orlando from Atlantic Petroleum, and subsequently revived a plan to develop the field as a tieback to the nearby Ninian Central platform, which is in the northern North Sea and is operated by Canadian business CNR International.
Decipher also said it was continuing to advance the Senna and Mansell discoveries, from which it is targeting up to 70m barrels.