ADIL recently announced a £500,000 contract win with oil and gas company, Iona Energy. ADIL will provide management support, enabling its client to develop a recently purchased field in the UKCS.
Iona completed the acquisition of North Sea Block 3/8d, containing the Kells (formerly Staffa) Oil Field, earlier in January. The company is primarily focused on the acquisition, appraisal and development of oil and gas discoveries in the UK North Sea.
The contract sees ADIL provide development support for the pre-sanction phase of the Kells development project. The work, which commenced in December last year, is expected to take place over a period of up to six months, potentially leading to a further execution phase.
Commenting, ADIL managing Director, James Paton said: “The early stages of development generally have the greatest influence on the value of oil and gas projects. All our key personnel have worked within oil companies, creating and evaluating various options. We have significant professional skills and comprehensive knowledge of facilities, infrastructure and regulatory requirements. We will call on this experience to provide Iona Energy with the optimal development solution for Kells.
“This is a new client for ADIL and we are looking forward to building on this relationship going forward.”
Speaking on behalf of Iona Energy in Aberdeen, Commercial Manager Peter Campbell said: “The Kells development represents a key milestone for us in becoming a North Sea operator and is an excellent addition to our portfolio. With 100 per cent operated interest in this asset, we are driving hard to get to first oil as quickly, efficiently and safely as possible.
“ADIL’s knowledge of the UK North Sea and its pre-sanction experience meant the company was a logical choice in helping us to commercialise the Kells field.”