Following a recent disappointment with the Verbier exploration well in the UK North Sea, Statoil has decided not to give up, and drill another well.
Namely Jersey Oil & Gas, Statoil’s partner has informed that the wireline log data from the initial exploration well, received late on 12 September 2017, has now been evaluated by the P.2170 Joint Venture partnership led by the operator Statoil.
According to the company, indications of the potential for hydrocarbons to be present in a smaller accumulation up dip of the 20/05b-13 Verbier exploration well cannot be ruled out. Accordingly, over the weekend, agreement was reached by the P.2170 Joint Venture partners to target this resource with a sidetrack exploration well, JOG siad. All necessary approvals have been received and operations have now started.
Jersey Oil & Gas will pay its cost of the well of will be approximately £0.7m, using its existing cash reserves and forecast receipts.
Drilling of the 20/05b-13Z sidetrack exploration well is expected to take between 25 to 35 days and a further announcement will be made in due course as appropriate.
Andrew Benitz, CEO of Jersey Oil & Gas, commented: “Whilst we have been disappointed by the results of the original Verbier exploration well, JOG is pleased to support the operator’s recommendation to undertake the drilling of this sidetrack exploration well. The joint venture partnership has now identified the potential for late Jurassic sands, similar to the water bearing sands encountered in the 20/05b-13 well, to be present within the hydrocarbon window up dip of the original well location, offering the possibility of a potentially lesser, but still commercially attractive, hydrocarbon accumulation.”
Offshore Energy Today Staff