Alpha has used the extensive available database to define an optimised, low cost Field Development Plan that gained technical acceptance from the OGA in December 2015. In addition to developing the existing assets Alpha will continue to look for opportunities to expand the portfolio with investment available from our shareholder, Petroleum Equity. That plan is based on the development of oil from the Cheviot and satellite Peel fields. Alpha Petroleum expands Cheviot project team with new appointments, including former BG Group engineering head Martin Freeman.
[…] In 2003, Alpha was awarded the licence in the 21st Licence Round.
Alpha is developing oil reserves of at least 55 mmbbls and future gas volumes of 120 bcf. Well management specialist Exceed has been awarded a contract by Alpha Petroleum Resources Limited for work on the Cheviot field development campaign.
Alpha Petroleum is a privately owned upstream oil and gas company, focusing on operated, development and production activities in the North Sea. At Alpha, we have a portfolio of assets at various stages of exploitation and we have a clear objective of delivering maximum value to our investors from those assets. Alpha Petroleum Resources Limited (Alpha) is a privately owned upstream oil and gas company, focusing on operated, development and production activities in the UK sector of the North Sea.
The Cheviot field is 100 per cent owned by Alpha Petroleum and its core development will consist of 18 firm and 5 contingent wells. Alpha Petroleum recently announced an exclusivity agreement with Teekay Offshore Partners L.P. on the project for use of its Varg Floating Production Storage Offloading unit as well as FEED capabilities to the project. Alpha will also look to use the Cheviot facility as a hub for other nearby discoveries and prospects, which have an unrisked potential of some 400 mmboe. Alpha Petroleum has appointed a former BG Group engineering chief to spearhead the Cheviot field development in the North Sea. The field, described by Alpha Petroleum as one of the largest undeveloped fields in the UK North Sea, is estimated to hold 55 mmbbls of oil and 20 mmboe of future gas production.