Asset Report
Victory
Report summary
Victory lies in the West of Shetland basin, 17 kilometres east of the Edradour gas field in the Greater Laggan Area. Texaco made the discovery in 1977. In 2022, Shell acquired a 100% stake in Victory via its purchase of Corallian Energy. Corallian was awarded the licence in the 32nd offshore round in 2020. Shell took FID on Victory in January 2024. We expect first gas in early 2026. Cessation of production is dependent on the lifetime of the Greater Laggan Area infrastructure.Shell is ...
Table of contents
- Key facts
-
Summary and key issues
- Summary
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Key issues
- Victory's economics are very attractive
- Energy Profits Levy (EPL) allowances will benefit Victory development
- Victory could encourage other developments in the Greater Laggan Area
- Upside in thinner sands to the northeast
- Location maps
- Participation
- Geology
- Well data
- Exploration
- Reserves and resources
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Production
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Emissions
- Victory will offer low emissions gas supply
- North Sea Transition Deal
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Emissions
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Development
- Wells
- Subsea
- Infrastructure
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Costs
- Capital costs
- Decommissioning costs
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Operating costs
- Emissions Trading Scheme (ETS)
- Fiscal and regulatory
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Economic assumptions
- Discount rate and date
- Inflation rate
- Gas price
- Carbon price
- Exchange rate
- Global Economic Model (GEM) file
- Economic analysis
Tables and charts
This report includes 21 images and tables including:
- Key facts: Table 1
- Index map
- Victory map
- Participation: Table 1
- Well data: Table 1
- Reserves and resources: Table 1
- Production: Table 1
- Production profile
- Infrastructure: Table 1
- Cash flow
- Economic analysis: Table 2
- Economic analysis: Table 3
- Split of Revenues
- Cumulative Net Cash Flow - Undiscounted
- Cumulative Net Cash Flow - Discounted at 10% from 01/01/2024
- Remaining Revenue Distribution (Discounted at 10% from 01/01/2024)
- Economic analysis: Table 4
- Remaining PV Price Sensitivities
- Costs: Table 1
- Costs: Table 2
- Costs: Table 3
What's included
This report contains:
