Ithaca Energy is closing in on a 30,000 barrels per day target for its Stella North Sea field after successful new tests from its latest well.
The A2 well, the second on the Stella field development, flowed at a maximum rate of 10,442 barrels of oil equivalent per day, with high quality oil being produced.
It comes after the first test well on the field last year produced a similar flow rate, with further wells still to be drilled by the Ensco 100.
Ithaca chief executive Les Thomas said the results went a long way towards achieving the forecast targets for the project.
“The excellent results of the A2 well represent another important step in de-risking the forecast production from the Stella field and realising the significant shareholder value that lies within the Greater Stella Area,” he said.
Work is currently underway in modifiying the FPF-1 floating production facility, as Ithaca looks to establish a North Sea oil and gas hub for the field.
First oil from the £630million project is expected to be produced by the end of the year, with two more development wells set to be drilled over the forthcoming weeks.
“Whilst the FPF-1 modification works are now forecast to take longer than initially anticipated, the new processing facilities being installed on the vessel will ensure that a high quality production facility is deployed at the centre of the GSA hub,” said Thomas.