Major new gas field discovery off Teesside coast

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A major new gas discovery has been made off the Teesside coast. Centrica Energy has found a “very positive” flow rate of gas for the Pegasus field in the Southern North Sea, 130 miles off Teesside.  It is now examining options for full-scale development. Centrica already operate several fields in the Southern North Sea.

Data for Pegasus West indicates a combined sustained flow rate of 90m standard cubic feet of gas per day (equivalent to 15,000 barrels of oil). The new field is in the same area as the Cygnus development which, at its peak, will produce enough gas to meet the needs of 1.5 million UK homes (5% of UK demand). It is thought that Pegasus West is around a tenth of the size of the neighbouring Cygnus development hub.

Centrica Energy has a 55% operated interest in Pegasus, which includes the Pegasus North well drilled in 2011, along with partners Third Energy which has a 35% interest and Atlantic Petroleum which has a 10% interest.

For more information, help or advice please contact Andrew Davison on 0191 211 7950.