Parkmead discovers new gas field in Netherlands

Oil and gas explorer Parkmead has discovered a new gas field in the Netherlands.

The company, together with its partner Vermilion Energy, identified a 157ft gas column at the Diever-2 well in northern Netherlands.

Vermilion used the Explorer TB2100S rig to drill the well, which is targeting the Diever West exploration prospect.

The company will set production casing in the well before testing and it is anticipated that Diever West will be tied into existing production facilities in the area.

Diever West is situated in the Drenthe IIIb production licence, onshore Netherlands.

Parkmead’s co-venturers in the licence are Vermilion Energy, NAM and EBN.

Parkmead executive chairman Tom Cross said: "We are delighted to report that a discovery has been made at Diever West.

"This new field provides an excellent, additional near-term production opportunity for Parkmead."

The company has started a site survey at its Skerryvore offshore oil prospect in the UK North Sea ahead of drilling work set to begin in 2015.

The Skerryvore prospect is estimated to contain up to 122 million barrels of recoverable oil on a most likely P50 basis.

Cross said: "Exploratory work is already underway at the exciting Skerryvore oil target.

"Skerryvore has the potential to add major value to Parkmead’s growing asset base."

Parkmead Group, through its subsidiary Aupec, offers petroleum benchmarking and economics expertise to a range of government bodies and international oil and gas firms.

Aupec has to date worked with more than 100 governments, national oil companies, majors and independents, as well as a number of multi-national agencies, such as the European Commission and the World Bank.

The company is presently working on an important benchmarking project for a group of the world’s largest super-major oil firms.