Drilling work on a North Sea field thought to contain up to 500billion cubic feet of gas has got under way.
Operator Dana Petroleum has spudded the first exploration well on the Pharos project, around 50km off the Humberside coast.
The field, into which Hansa Hydrocarbons recently farmed in to join partners Dyas, MPX and Parkmead, is close to the Platypus gas discovery.
If successful, the two fields would be jointly developed, Parkmead said today.
“We are delighted to report that the well targeting the large Pharos gas prospect has started drilling,” said Parkmead chairman Tom Cross.
“If successful, Pharos could add significant further value to the Platypus gas field and also provide greater understanding of the exciting Blackadder prospect nearby.
Work on the first exploration well is being carried out by the Noble Lynda Bossler rig, with the field covering roughly 6,000 acres.
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