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PARIS: French oil and gas major Total said it had made a significant, new discovery off the coast of Britain at its North Sea Glengorm prospect, with recoverable resources estimated at around 250 million barrels of oil equivalent.
The company said further drilling and testing would be carried out to appraise the resources and the productivity of the reservoir.
“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,” said Kevin McLachlan, Total’s Senior Vice President for Exploration, in a statement.
The discovery is close to existing infrastructures operated by Total and offering tie-back possibilities, such as the Elgin-Franklin platform and the Culzean project, scheduled to start production this year, the company said.
It also presents some upside potential with several other prospects already identified on the same block, it added.
Total holds a 25 percent working interest in Glengorm.
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.