More than 1million additional barrels of oil are expected to be unlocked through a sidetrack well in the central North Sea later this year.
The well will be drilled on the Guillemot-A field, which forms part of the Anasuria cluster assets, located 110 miles east of Aberdeen.
The contract for the sidetrack has been handed to Seadrill subsidiary North Atlantic Drilling.
Its West Phoenix drilling rig is expected to get to work on the well in the second quarter of 2018.
The cluster is operated by Anasuria Operating Company, which is jointly owned by Malaysian duo Hibiscus and Ping Petroleum.
They completed their acquisition of the Anasuria cluster from Shell and ExxonMobil in 2016 for close to £70million.
Hibiscus was the first independent oil and gas company to list on the Malaysian stock exchange in 2011, after being founded in 2007.
Ping is a privately-owned firm headquartered in the tax haven of Bermuda, with an office in Kuala Lumpur.
The Anasuria cluster is made up of wholly-owned interests in the Anasuria floating production, storage and offloading vessel and the Teal, Teal South and Guillemot A fields, plus a 38.65% interest in the Cook field.
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