A UK-based oil and gas company claims to have discovered the “largest undeveloped” oilfield off the Scottish coast.
Hurricane Energy’s Halifax prospect and nearby Lancaster field are part of the same huge reservoir that could contain one billion barrels of recoverable oil.
The company says it has focused its efforts on what it believes are neglected geological formations known as naturally fractured basement reservoirs.
CEO Dr Robert Trice said: “This is a highly significant moment for Hurricane.
“Given the positive well results, the Halifax Well has been suspended to provide the company the option to return to undertake further testing as well as provide the option to deepen the well and thereby establish a definitive oil water contact.”
The company hopes to begin production in 2019.
The Oil & Gas Authority (OGA) recently awarded 25 licences to enable further oil and gas exploration and production on the UK Continental Shelf (UKCS).