Egdon Resources plc (AIM: EDR, “Egdon”) provides an update on the timing of the 3D seismic survey over the Resolution gas discovery in offshore licences P1929 and P2304.
Shell Oil U.K. Limited (“Shell”), the operator of offshore licences P1929 and P2304, has advised Egdon that the marine 3D seismic survey, planned over the Resolution and Endeavour gas discoveries is now anticipated to be acquired in February 2022 rather than Q1 2021. This follows the results of a revised environmental impact assessment and extensive stakeholder engagement in respect of the planned survey. This work concluded that the commercial impact on local fishing businesses, along with potential impacts on marine mammalian movements, breeding season for sea birds and tourism, meant that the optimum time window to successfully acquire seismic data in 2021 was during February, not March/April as originally anticipated.
Unfortunately, it was not possible to finalise all of the required agreements in respect of managing the fishing vessels operating in the survey area within the timeframe necessary to enable the survey to take place in February 2021.
As such, and subject to the OGA consenting to an amendment to the licence obligations, it is now intended to undertake the survey in February 2022, to enable all agreements with commercial and other stakeholders to be finalised well in advance of the planned survey.