The Netherlands

RockRose Energy entered the Dutch oil and gas exploration & production sector through the 2018 acquisition of Dyas BV and its interests in the A&B Blocks, the K4b-K5a area, and the Hanze oil field. With Viaro Energy’s 2021 acquisition of Hague and London Oil (HALO) BV portfolio, the company gained assets in the Joint Development Area partnership. RockRose Energy also has interests in several other offshore and onshore assets in the Netherlands, including the Rijn field, F15AB and the Greater Markham Area, the Bergen Concession, and the strategic gas store Alkmaar PGI.

A&B Blocks

RockRose Energy has non-operated interests in the A&B Blocks, made up of 6 gas fields operated by Petrogas. Five of the fields – including A12, A18, and B13, which are onstream – are within a unitised area. The producing fields were brought onstream using a Central Processing Platform (CPP), with compression facilities to address the low pressure of the Pleistocene-age reservoirs. Due to capacity constraints at the CPP, a phased development approach has been pursued in the area. Gas is exported via a spurline to the A/6-F/3 pipeline, which in turn links to the NOGAT pipeline for transportation to Den Helder.

Equity: 14.63%

Status: Onstream/In Development

Location: The A&B Blocks gas fields are located in the offshore Netherlands, in water depths between 350 metres and 700 metres.

Potential: Viaro Energy acquired interests in several BCA fields in 2021, as part of its long-term strategy to support life extension initiatives for mature gas assets in the North Sea. Considering the age of the infrastructure, the operator initiated the Southern Hub Asset Rationalisation Project (SHARP), a strategic investment project designed to extend the economic production life of the existing Leman and Indefatigable gas fields. The assets are being modified to become Normally Unmanned Installations, and redundant facilities are planned to be removed, thereby delivering a more efficient and cost-effective production operation.

Potential: RockRose Energy acquired interests in the A&B Blocks gas fields in 2018, which began production in 2007. With investments to secure the full potential of existing fields and the development of new gas explorations, the A&B Blocks reserves are estimated to last for several decades to come.

Latest Production Results: ~2,600 boepd / 10.4 Mmboe net to RockRose in 2022

K4b-K5a Blocks

RockRose Energy’s interests in the K4b-K5a Blocks include 9 gas fields operated by Total Energies, 1 of which has ceased production. The area was developed with a CPP over the K/5-A structure and 5 unmanned wellhead platforms to produce gas from the satellite fields. The assets were developed in phases, with first gas achieved from K/5-A and K/5-D in 1994, while K/5-F was brought onstream in 2008. Apart from K/5-F field, which exports its gas via the NGT pipeline to Uithuizen, gas from the area is exported via the equity-owned WGT pipeline to Den Helder.

Equity: 6.98% (K4b); 11.66% (K5a)

Status: Onstream

Location: The K4b-K5a Blocks are located in the offshore Netherlands at a water depth of up to 68 metres, and the gas produced from the Permian Lower Slochteren reservoir at a depth of approximately 3,500 metres.

Potential: The gas fields in the K4b-K5a Blocks have begun coming onstream 1994. The operator is focused on life-extension projects through cost reduction (unmanning) and infill initiatives, supported by RockRose Energy’s 2018 investment in the fields.

Latest Production Results: ~900 boepd / 1.2 MMboe net to RockRose in 2022

Joint Development Area (JDA) & K18-Golf

RockRose Energy obtained interests in the JDA through Viaro Energy’s 2021 acquisition of HALO BV. The JDA covers 6 unitised licences (K07, K08, K11, K14, K15, and L13) and 23 producing fields. It is operated by NAM, a Shell and ExxonMobil joint venture. The main processing hubs within the JDA are the K7-FA and K8-FA to the north, and the K14-FA-1P/1C, K15-FA and K-15-FB to the south. Gas is produced from both high-caloric (HiCal) and low-caloric (LoCal) gas fields. HiCal gas is delivered into the Wintershall-operated WGT pipeline, while the LoCal gas is delivered via a dedicated JDA-owned pipeline to Den Helder. K15-FA receives most of the HiCal gas, and LoCal gas is delivered to the K15-FB platform. RockRose Energy also has interests in the K18-Golf field, a subsea tie-back to the K15-FA facility within the JDA operated by Wintershall.

Equity: 9.95% (JDA); 2.25% (K18-Golf)

Status: Onstream

Location: The JDA and K18-Golf are located on the Dutch continental shelf.

Potential: The JDA gas fields are mature, with first production in the K14 block in 1975. Viaro Energy’s 2021 investment contributed to the JDA partners’ initiative to maintain production levels through well enhancement work and infill wells, including the recent L13-FG infill well. In 2022, the partnership has acquired an OBN seismic survey to support future infill opportunities. Work has also commenced on the K14-FA carbon capture storage (CCS) project, with RockRose Energy directly participating in the storage joint venture. The partners are also currently looking at an infill opportunity on the K18-Golf structure.

Latest Production Results: ~1,400 boepd / 6.4 Mmboe net to RockRose in 2022

Hanze Field

Discovered in 1996, the Dana-operated Hanze oil field was developed using a steel gravity-based platform containing a storage tank with capacity of 150,000 barrels at its base. Oil is produced from a heavily fractured Cretaceous chalk reservoir, while a shallower Pliocene gas reservoir was sanctioned for development in 2009 and produces from a single horizontal well. Oil is exported by shuttle tankers, and gas is exported via a spurline to the A/6-F/3 pipeline, which in turn links to the NOGAT pipeline for transportation to Den Helder.

Equity: 12%

Status: Onstream

Location: The Hanze field is located in the offshore Netherlands.

Potential: The Hanze field came onstream in 2001 and its operator is focused on delivering additional volumes via either infill and exploration or third-party business. In 2018, RockRose Energy invested in Hanze in order to ensure that its reserves are used to full potential.

Latest Production Results: ~394 boepd net to RockRose in 2022

Other Dutch Assets

RockRose Energy has interests in several other assets in the offshore and onshore Netherlands. These mostly include late-life assets that produced a combined average of 446 boepd net to RockRose in 2022. The company’s other interests include several transportation and storage facilities.

Asset
Location
Equity
Overview
F15A&B
Offshore Netherlands
8.82% 
Late-life assets in production since 1993, with deferred decommissioning cost and timing upside.
P&Q Blocks
Offshore Netherlands
~10% – 30% across various fields 
Assets predominately decommissioned, with remaining production from Q1B.
Markham Area
Offshore Netherlands
1.73% – 4.43%
Hub for third-party tariff business, located on the border of the UKCS and the NLCS. J3C and Grove equity gas transported through Markham.
P15/P18/Rijn
Offshore Netherlands
45.69%
Predominantly oil output from the Rijn field, potential for further development drilling.
WGT
Offshore Netherlands
8.88%
WGT Pipeline system and WGT extension transporting equity gas to Den Helder.
Bergen
Onshore Netherlands
12.00%
Mature production with upside potential from NAM operated West Beemster field.
Alkmaar PGI
Onshore Netherlands
12.00%
Strategic Peak Gas storage facility providing fixed risk-free cash flow through capacity provision contracts.