Statoil makes ‘significant’ oil find on the UKCS

A partnership led by Statoil has made a new oil discovery on the UK Continental Shelf (UKCS). The energy giant made the find in the Verbier sidetrack well in the […]

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By Jonny Bairstow

A partnership led by Statoil has made a new oil discovery on the UK Continental Shelf (UKCS).

The energy giant made the find in the Verbier sidetrack well in the outer Moray Firth, with a minimum of 25 million recoverable barrels of oil and an estimated maximum stretching up to 130 million barrels.

The partnership, which is made up of Statoil (70%), Jersey Oil and Gas (18%) and CIECO V&C (12%), will continue to assess the site to determine the exact size of the discovery.

The companies also encountered two oil-filled sands in the region of the Mariner Segment 9 well and a thin oil column in the deeper Maureen Formation.

Jenny Morris, Vice-President of Exploration at Statoil, said: “We are convinced of the remaining, high-value potential on the UKCS and the Verbier result certainly gives us the confidence and determination to continue our exploration efforts.”