Glengorm Discovery Branded Major Milestone
The Glengorm discovery is a major milestone towards adding another generation of productive life to the UK North Sea, according to Ross Dornan, market intelligence manager at industry body Oil & Gas UK.
“This is a major find and a great example of partner companies CNOOC International, Total E&P and Edison working together to explore and unlock the potential of the UK Continental Shelf (UKCS),” Dornan said in a statement posted on the organization’s website on Tuesday.
“Glengorm was a challenging prospect to drill, however the combined determination and perseverance of the partners has paid off. The location of the discovery, in the central North Sea, also provides a valuable opportunity to make use of the UKCS’ extensive infrastructure network,” he added.
In a statement posted on the Oil and Gas Authority’s (OGA) website on Tuesday, the OGA described the Glengorm discovery as “significant”.
“Initial results show that Glengorm could be one of the biggest finds in the UKCS in recent years, possibly the biggest since the Culzean gas field was discovered eleven years ago,” OGA Chief Executive Andy Samuel said in the statement.
“This underlines the considerable potential of the UKCS. Our official estimate is that there still remains between 10 and 20 billion barrels plus to be recovered, so there is every chance of yet more significant finds, provided industry can increase exploration drilling and capitalize on the real value to be had here in the UK,” he added.
CNOOC Limited announced the Glengorm discovery on Tuesday. Recoverable resources are estimated at close to 250 million barrels of oil equivalent, according to Total, which has a stake in the find.
WHAT DO YOU THINK?
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.