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TAQA Makes North Sea Oil Discovery

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DUBAI - Abu Dhabi National Energy Co. said it has discovered oil at the new Darwin field in the North Sea off the coast of Scotland.

Two oil columns were discovered during the Darwin drilling program, which started in November, TAQA said in an emailed statement. One well has been suspended for the purpose of future well testing, it added.

TAQA acquired a 50% interest in the Darwin acreage in February last year. The field is located next to the TAQA-operated Cormorant South, North Cormorant and Pelican fields in the Northern North Sea. The reserves potential of the Darwin oil discoveries, in conjunction with NW Hutton Field re-development, is currently being re-evaluated, the company said.

"TAQA is currently studying optimal development options. Further appraisal drilling (including well testing) is anticipated prior to selection of a development concept," it said.

Last month, TAQA started first oil production from the Cormorant East field development in the U.K. North Sea which is expected to contain 10-30 million barrels of oil.

Copyright (c) 2012 Dow Jones & Company, Inc.

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