An Aberdeen-based oil and gas acquisition advisory specialist has been assigned to secure an investor for a share in a French oilfield.
Oilgen Advisory, which is a division of reservoir specialists, Oilgen, has been appointed by French oil company, Bridgeoil SAS, to find a partner investor for the Nonville concession in the south of Paris.
It provides reservoir engineering support to the French independent company in all its operations, acting as development advisors.
Bridgeoil is exclusively involved in conventional oil and gas operations, and holds concession rights to produce and explore hydrocarbons in Nonville for over 20 years. The deal is compliant with French anti-fracking laws.
Oilgen’s advisory service, which also helps international investors acquire the best onshore oil and gas assets, started work to find an investor for the field in March during the APPEX 2014 Forum in London, which was organised by the American Association of Petroleum Geologists.
Oilgen Advisory has already successfully helped Bridgeoil secure bank finance for the field. Bridgeoil is now offering around 10% share of the asset, and the finance will be used to drill a new well.
“When we started working on the oilfield we found hidden potential that had been overlooked. The Nonville field offers investors the exciting opportunity to be involved in the project right from the start of drilling.
“It is anticipated that more than a million barrels of oil will be recovered in the first phase of drilling, comprising five wells. A larger quantity of contingent resources is also accessible from drilling a more risky prospect.
“We are keen to continue to growthe advisory service on behalf of both buyers and sellers. The number of transactions is expected to increase in 2014/15 as companies divest, and Oilgen wants to play an important role in helping clients divest in North Sea oilfields too.”
Oilgen, which was founded in 2011 is currently working on projects in the North Sea, France, Egypt, West Africa and Holland, and has an active USA network. Oilgen’s Advisory service gives clients access to lawyers, accountants, banks, oilfield services, reserves auditors, partners and operators.
Pictured is Managing Director of Oilgen, Laurent Schirrer