The Parkmead (GB:PMG) has released an update.
The Parkmead Group has been officially granted the P2634 license by the UK’s North Sea Transition Authority, covering three blocks in the Outer Moray Firth. Partnering with Orcadian Energy, Parkmead plans to develop the Fynn Beauly heavy oil field, estimated to hold up to 1.33 billion barrels. The joint venture aims to align the project with the UK’s Net Zero Strategy by studying enhanced oil recovery techniques that could reduce oil viscosity and improve recovery.
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