Lagavulin (P1196) has a license area of 568km2 and is located 200km north of Shetland. It is a large 4-way dip enclosure, has potential for multiple sand reservoirs and is estimated to contain up to 14,000 mmboe in-place hydrocarbons. Chevron has a firm well commitment to drill the prospect by Nov 2010 & is offering to farm down 30% equity. The Stena Carron drillship is scheduled to drill the well. Talisker (P1165) is a follow-on prospect in adjacent blocks, has a license area of 669km2, is on the same geological trend and is estimated to contain up to 4100 mmboe in-place hydrocarbons. Chevron believes that there are geologic dependencies between the two prospects. The new partner in Lagavulin would have automatic right to participate in Talisker.
License: P1196 (blocks 217/10, 14 & 15) & License P1165 (blocks 217/3A, 4A &5)
Type of deal: Farm out
Basin: Atlantic Margin
Type of project: Exploration