The Press and Journal (Inverness, Highlands, and Islands)
Zenith provides new well expertise onshore
Contract: North-east firm to work on UK site
Terrain Energy, a Londonbased firm currently focused on onshore oil and gas interests in the UK and Germany has turned to Aberdeen’s Zenith Energy for well management expertise.
Zenith, which has its head office in Bon Accord Square, will provide planning services for a well in Lincolnshire.
It will also look after the contracting of a rig, procurement of equipment and the supervision of drillingandcompletionoperations.
The contract, which
is worth £1.3million and described by Zenith as “long term”, sees Terrain become three- year- old Zenith’s 23rd client.
Planning work for the well is due to start immediatelyanddrilling isdueto start in the first quarter of next year.
Zenith managing director Martin Booth said: “Having successfully delivered our first complete project-managed well in the UK for Europa Oil and Gas on time, on budget and safely earlier this year, we are delighted to have secured a second well project management contract so quickly.”
Terrain director Eric King added: “This appraisal project is one of several exciting opportunities that Terrain is planning in 2015-16 and we look forward to working with Zenith on this project.”
Zenith, which employs 18 p e o p l e , is a well engineering consultancy and project management companyproviding a range of specialist services to the offshore – and now onshore – oil and gas industry.
The company is owned and managed by engineers, with experience gained in the UK, Norway, west Africa and the Falklands.
Accounts lodged atCompanies House show that as of August 28, 2014, the business was owned byMr Booth, Gwen Booth and Christopher Collie.
Mr Booth had a 59% stake.
Terrain Energy was set up in October 2009 to develop a portfolio of oil and gas interests based onshore in politically stable countries.
Its current assets cover existing oil production as well as projects scheduled for near-term production, rejuvenation and exploration.
The company – owned by funds under the management or advice of private- equity firm Calculus Capital – is pursuing only conventional oil and gas opportunities.
It has no plans to participate in unconventional reserves, such as shale oil and gas.
“We are delighted to have secured a second well project”