Corallian Energy has submitted an environmental statement for its proposed development of the Victory field, a subsea tieback due to come online in 2024.
The privately held, UK-focused explorer submitted a draft development plan for the field to the UK Government last year, in which it estimated mid-case recoverable resources of 179 billion cubic feet of gas (bcf).
Discovered by Texaco in 1977 and located in Block 207/01a, Victory lies around 29 miles north west of the Shetland Islands in water depth of around 170m.
Corallian holds 100% of equity in the field, having been awarded licence P2596 following the 32nd Round.
According to the statement submitted on 6 July, the field would be developed via a single subsea well tied back via a new 10-mile, 14 inch pipeline to one of the hot tap tees at the TotalEnergies-operated Greater Laggan Area (GLA) network infrastructure.
The well would be controlled from TotalEnergies’ Edradour manifold, located approximately 11 miles to the west-south-west, via a new umbilical.
Other export routes, including a tie back to BP’s Clair Ridge infrastructure, were considered but were found to be unviable.
The field will be operated from the GLA control room at the onshore Shetland Gas Plant (SGP). Once brought onshore, condensates will be removed and piped to the Sullom Voe oil terminal, while the gas will be processed and sent to the UK grid via the Shetland Island Regional Gas Export System (SIRGE) and Frigg UK Association (FUKA) pipelines.
Peak production rates from the field are anticipated to be 148.6 million cubic feet per day of gas and 15.4 tonnes of condensates per day by around the third year of production. Total field life is expected to range between seven and 10 years.
Subject to consents and approvals, Corallian said it intends to conduct engineering surveys and a rig site survey in the summer of 2023, with a view to carrying out development drilling and subsea installation between May and October of 2024.
First gas is then targeted for Q4 2024.
Meanwhile, in May Reabold Resources announced it had received a potential offer for its 49.99% stake in Corallian.
At the time, it said negotiations were progressing, and that a further update could be expected in due course.
As part of the potential sale process, Reabold also entered into a conditional agreement to acquire Corallian’s working interest in all the non-Victory licences within its portfolio for £250,000.