Whalsay Energy Limited is a qualified UKCS operator whose core asset is the Bentley oil field, located in Block 9/3b, 150km east of the Shetland Islands. Whalsay Energy holds 100% of Licence P.1078, which contains the entirety of the Bentley field; one of the largest, undeveloped oil fields in the UK North Sea.
Bentley has undergone a structured appraisal process, including an Extended Well Test in 2012, and is currently estimated to have 912 MMstb (P50) of oil in place. An extension of the Licence to 30 June 2021 has enabled the company to work with independent technical authorities to revise a development solution. This solution targets 131 MMstb (P50) of reserves from the core area of the field and delivers a commercially and economically credible development concept, with life-cycle costs circa $33 per barrel, that maximises the economic recovery from the Bentley field.
This policy is reviewed on an ongoing basis and formally reviewed at least annually during management review and the latest version will always be available on our company web site or upon request.