What has been described as the largest undeveloped discovery on the UK Continental Shelf has been confirmed by oil company Hurricane.
The well, located west of the Shetland Isles, is expected to yield billions of barrels of crude oil.
Confirmation of the discovery, which is said to be “a very significant oil column”, was made late yesterday.
The discovery at the Halifax well is 30 km from the company’s Lancaster field. The company has said it believes both are part of a single large accumulation which is now being referred to as the Greater Lancaster Area [GLA].
“We believe that the GLA is a single hydrocarbon accumulation, making it the largest undeveloped discovery on the UK Continental Shelf,” said Robert Trice, Hurricane chief executive said:
Trice added: “The discovery of a 1km hydrocarbon column at Halifax validates the efforts the company undertook to acquire the licence and drill, test and log the Halifax Well through the winter months.
“Given the positive well results, the Halifax Well has been suspended to provide the company the option to return to undertake further testing as well as provide the option to deepen the well and thereby establish a definitive oil water contact.”
The discovery comes only days after Royal Dutch Shell and BP won exploration licences in the area.Views: 6569