North Sea operator Dana Petroleum says it has made a new gas discovery after drilling on the Pharos prospect.
The field, 35miles northeast of the Yorkshire coast, had previously been estimated to contain up to 500billion cubic feet of gas – the equivalent of 86million barrels of oil.
Now detailed evaluation work will be carried out to determine exactly how much gas is on the site.
“Pharos is well located to take advantage of a number of gas export options in the area and we now need to undertake further detailed technical work to evaluate its commercial potential,” said Dana managing director Paul Griffin.
Drilling work on the field began a month ago with the Noble Lynda Bossler rig for Dana, which operates the field for partners Hansa, Dyas Exploration, MPX North Sea and Parkmead.
The latter said the find could be developed in conjunction with the nearby Platypus field, around 14km, which was appraised last year with a flow rate of 27million cubic feet a day.
“This success could add significant further value to the Platypus gas field, strengthening Parkmead’s position in the UK southern gas basin,” said Parkmead chairman Tom Cross.
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