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12:25, 30-Jan-2019
CNOOC, Total discover major gas and condensate field in North Sea
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China's state-run oil company CNOOC and the French company Total announced Tuesday a new gas and condensate discovery off the coast of Britain at the North Sea Glengorm prospect, with recoverable resources estimated at around 250 million barrels of oil equivalent.
According to CNOOC, the discovery was made with a 5,000 meter well in the Glengorm prospect, meeting net gas and condensate pay zones with a total thickness of 37.6 meters.
“Glengorm is another great success for Total in the North Sea, with results at the top end of expectations and a high condensate yield in addition to the gas,” Kevin McLachlan, Total's senior vice president for exploration, said in a statement.
The discovery is close to existing infrastructure operated by Total and offering tie-back possibilities, such as the Elgin-Franklin platform and the Culzean project, scheduled to start production this year, according to Total.
"The discovery at Glengorm prospect demonstrates the great exploration potential in the license area," CNOOC executive vice president Xie Yuhong said, noting that "We are looking forward to further appraisal."
China's CNOOC Petroleum Europe Limited, a wholly-owned subsidiary of CNOOC Limited, holds a 50 percent stake and is the operator, while Euroil, a wholly-owned subsidiary of Edison E&P SpA, holds 25 percent.
(With input from Reuters)