Timing is everything
In 2021, EnergyPathways acquired one of these discoveries from a small explorer in return for a minor overriding royalty. EnergyPathways operates and wholly owns the project.
Marram is a shallow discovery in shallow water with 40-50 bcf recoverable resources in a good reservoir.
Since the SPA was signed in August 2021, natural gas prices have increased substantially and UK gas prices are now linked to global LNG prices which are forecast to remain elevated for the foreseeable future, making previously overlooked gas discoveries highly economical. With increasing spare capacity at existing infrastructure due to the decline of large fields, Marram can be developed very profitably through a simple tie-back.
Ready to Go
- Timing is everything – Discovered by Ranger in 1993 – not developed due to historic gas prices and lack of access to infrastructure.
- EnergyPathways has 100% ownership of this “Ready to go” gas development.
Low Emissions
- Provides low emissions energy solutions for the UK by displacing higher emission LNG imports.
High Returns
- Simple low cost sub-sea tie back to existing nearby infrastructure.
- Minor platform and processing modifications expected.
- ~50 BCF 2P Technically recoverable resource to be validated by CPR (Q1 2022)
Towards Net Zero Emissions
Producing Marram gas will result in reduced CO2 emissions over the field life by offsetting imported LNG and/or coal generation.
UK gas fields have emission intensity of only 10-20 kgCO2/boe, which is about half the emissions intensity of imported LNG.
