Private equity-backed oil and gas exploration firm Siccar Point last night described the result of drilling at its Blackrock exploration well as “very encouraging”.
Chief executive Jonathan Roger said he looked forward to “further exploration” in the west of Shetland basin as a result.
Siccar Point also revealed it encountered gas.
The Ocean GreatWhite, the largest semi-submersible drilling rig in the world, drilled the well.
Siccar also plans to drill the nearby Lyon exploration well immediately after, estimated to hold between one and three trillion cubic feet of recoverable gas.
Blackrock lies 86miles north-west of Shetland between Siccar’s Cambo and Rosebank fields.
Siccar is 52.5% owner and operator, with Suncor Energy holding a 25% stake. Shell holds the remaining 22.5%.
Blackrock is part of the wider Corona Ridge Area, which holds more than 800 million recoverable barrels of oil equivalent, which are mainly in Rosebank and Cambo.
Mr Roger said: “I am very encouraged by this well result and look forward to further exploring this material exploration play with our partners.”
Recommended for you
