Synergia Energy (AIM:SYN) will apply to relinquish its 50% interest in the CS019 Camelot carbon storage licence in the Southern North Sea because of unresolved legacy-well integrity evidence and commercial uncertainty over permitting.
The CS019 licence contains 13 legacy wells, Synergia submitted a legacy well integrity risk assessment to the North Sea Transition Authority in November 2025 which was reviewed at an NSTA workshop on 9 June, and the company, an energy group with exploration and carbon storage projects in the UK and India, said two wells (53/01-4 and 53/01-6) lack detailed abandonment records and Mobil composite logs from the 1970s cannot be corroborated.
Synergia says the two wells were abandoned with open hole sections in the Leman Sandstone and Zechstein formations, it is confident those sections have collapsed after circa 50 years and therefore the wells cannot be re-abandoned, creating uncertainty around a storage permit for the Leman Sandstone reservoir.
The company anticipates its 50% joint venture partner, Harbour Energy, will also request relinquishment of CS019.
Separately, Synergia, which holds a 50% working interest in the Cambay PSC in India, reports the recently worked-over C‑08 well has stabilised at circa 30 bopd and total Cambay production is currently circa 140 bopd and circa 50 MCF gas.
Synergia says it retains its CCS interest via its Cambay CCS project in India and will now focus on further development of the Cambay PSC field and assessing additional opportunities in the E&P sector, the details being disclosed in an RNS announcement.
