Total and companions together with China’s CNOOC have made a big new fuel discovery off the coast of Britain on the North Sea Glengorm prospect, with recoverable assets estimated at round 250 million barrels of oil equal (boe).Total mentioned additional drilling and testing could be carried out to appraise the assets and productiveness of the reservoir.

“Glengorm is one other nice success for Total within the North Sea, with outcomes on the high finish of expectations and a excessive condensate yield along with the fuel,” mentioned Kevin McLachlan, Total’s Senior Vice President for Exploration, in a press release.

The discovery is near present infrastructures operated by Total and provides tie-back potentialities, such because the Elgin-Franklin platform and the Culzean venture, scheduled to start out manufacturing this 12 months, the corporate mentioned.

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It additionally presents upside potential with a number of different prospects recognized on the identical block, it added.

Britain’s Oil and Gas Authority (OGA) welcomed the invention because it underlined the realm’s potential.

“Our official estimate is that there nonetheless stays between 10 and 20 billion barrels plus to be recovered, so there’s each likelihood of but extra vital finds, offered trade can enhance exploration drilling,” mentioned Andy Samuel, Chief Executive of the Oil & Gas Authority.

Kevin Swann, senior analyst at Wood Mackenzie, mentioned that at 250 million boe, Glengorm was the most important fuel discovery within the United Kingdom since Culzean in 2008.

“This was third time fortunate for CNOOC at Glengorm. Technical issues noticed it try to fail to drill the prospect twice in 2017, so persistence has paid off. This is an efficient begin to what might show to be a pivotal 12 months for UK exploration with a number of excessive impression wells within the plan,” Swann mentioned.

Total holds a 25 p.c working curiosity in Glengorm.

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China’s CNOOC Petroleum Europe Limited, a wholly-owned subsidiary of CNOOC Limited, holds a 50 p.c stake and is the operator, whereas Euroil, a wholly-owned subsidiary of Edison E&P SpA, holds 25 p.c.

Source: www.reuters.com

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