Work is getting underway on Devil’s Hole Horst, a hotly-anticipated exploration prize in the UK North Sea.
The Valaris Norway jack-up rig is now on its way to the target, operated by North Sea Natural Resources, having won the contract in January.
Devil’s Hole Horst is targeting more than 500 million barrels of oil equivalent around 100 miles east of Aberdeen.
Three60 Energy is the contractor carrying out the work on behalf of NSNR.
Devil’s Hole Horst remains one of the largest targets to be drilled in the UK this year.
During a webinar in May, Westwood Global Energy Group reported that pre-drill estimates had dropped – from 990m barrels to 580m – after a new Competent Person’s Report shown at the BEOS conference in London, but chance of success had increased.
North Sea Natural Resources won the licence – P2321 – in the 29th offshore licensing round in 2017.
According to its website, Devil’s Hole Horst was first tested via two wells more than 40 years ago by Amoco.
However, re-interpretation of the seismic data “indicates both have evidence of hydrocarbons within Permian Zechstein reservoirs,” said NSNR.
Shearwater Geoservices carried out new seismic mapping in December 2022.
The Valaris Norway is on-contract at a day rate of $105,000.
It comes after the rig finished up work for NEO Energy, the UK’s fifth-largest oil and gas producer, at its Victoria field.