Viaro Energy has solidified its position in the North Sea oil and gas sector by acquiring a 100% stake in licence P.2593 in the West of Shetland.
This strategic acquisition, through Viaro's wholly owned subsidiary RockRose Energy, places the licence adjacent to RockRose's current producing assets and infrastructure.
Licence P.2593 encompasses the Tuck discovery, a Cretaceous gas-bearing reservoir located on the north-west flank of the Rona Ridge.
The discovery is characterised by an amplitude anomaly, suggesting the presence of thicker and higher-quality reservoir sands, Viaro noted.
These geological features extend up dip and along strike from the initial discovery well, indicating an opportunity for resource development, it added.
Furthermore, the licence area is home to several other prospects and leads. Among them is the Boulmer prospect, a 'drill-ready' Devonian structure with substantial Lower Clair sediments, which could be up to 800m thick.
This addition to Viaro's portfolio could represent a considerable untapped resource, with the company now assessing the most beneficial avenues to advance these prospects to the development stage.
Viaro Energy CEO Francesco Mazzagatti said: “The West of Shetland continues to be a strategic hub for exploration opportunities, and the Tuck discovery could hold considerable resources.
“The licence’s proximity to our existing assets in the Greater Laggan Area offers important potential for extending the life of the infrastructure, including the Shetland Gas Plant.
“The work programme will also focus on exploring electrification and other technological innovations to reduce emissions in the area.”
In December 2023, RockRose Energy inked a deal with EnQuest to purchase a 15% interest in the Bressay field, along with the EnQuest Producer floating production storage and offloading unit.
Bressay stands out as one of the largest undeveloped oil fields on the UK Continental Shelf, boasting more than 115 million barrels of net 2C reserves.
The field's potential is estimated at around 200 million barrels of oil equivalent, making it a significant asset in the region's energy landscape.
Discovered more than four decades ago in 1978, the Bressay field spans several blocks in the northern North Sea, east of the Shetland Islands.
