Rosebank oil & gas field is located offshore of the Shetland Islands, in the UK. It lies in blocks 213/26 and 213/27 of production licence 1026 in 1,100m of water.
Chevron is the operator of the field with 40% interest. Partners include Statoil (30%), OMV (20%) and Dong Exploration & Production (10%).
Rosebank is considered one of the biggest prospects in the UK Continental Shelf. The partners have acquired majority of the acreage surrounding the field where other prospects may lie. Chevron plans to invest billions of dollars (USD 6-8B) in the development of the field.
The field was discovered in December 2004 with the drilling of the 213/27-1Z well in the Faroe-Shetland Channel. The well was drilled by the West Navigator drillship. It struck two oil and gas accumulations with a net pay of 169ft.
Chevron invested USD 327M to appraise the field in 2007. In July 2007, the field was successfully appraised with the drilling of the 205/1-1 well.
The well was drilled to a depth of 2,743m by the Transocean Rather drillship. It flowed at the rate of 6,000bpd and encountered 24m of 37° API light oil. The well was part of a three-well appraisal programme undertaken for the area.
The project is currently in the front-end engineering and design stage. Final investment decision on the project is expected in early 2013 followed by a drilling programme in 2015. First production is expected in 2017.