New offshore oil discovery in the North Sea
Abu Dhabi’s TAQA in new find 80 miles north-east of Shetlands
By Gaurav Sharma | CFO UK | Published 09:50, 18 February 13
A new oilfield has been discovered in the UK's northern sector of North Sea by TAQA, the Abu Dhabi National Energy Company.
In a statement, the Abu Dhabi state-owned company, which recently acquired some of BP’s North Sea assets for £624 million, said two columns of oil had been found at the Darwin oilfield, 80 miles north-east of Shetlands, since drilling began in November 2012.
The field is a joint venture between TAQA and Fairfield Energy.
Leo Koot, managing director of TAQA (UK), said, "This discovery proves that the North Sea still has great potential."
Commenting on the find, Chris Wright, CEO of Fairfield, said, "We are delighted with the excellent results from the Darwin drilling programme, which has seen one potentially significant discovery and confirmation of the areal extent of a previous discovery.”
"The presence of two rigs concurrently on the location demonstrates the operational excellence and commitment of both Fairfield and TAQA, towards expediting exploration and appraisal of this important area. Furthermore, it demonstrates our team's strong technical ability and, with our supportive investors augurs well for further successes as we continue to grow in the months and years ahead," he concluded.
Share:Facebook Twitter Google Plus Stumble Upon Reddit Share This Email this article
Working capital improvements start to pay off, but more could be donemore ..
Amazon today slashed the price of its three-month-old Fire Phone to 99 cents, an obvious bid to boost slow sales.more ..
App use grows by 162 percent during World Cup periodmore ..
The acquisition aims to boost Samsung's business-to-business mobile offeringsmore ..
Outdated finance processes, systems and competencies leave too many questions unansweredmore ..
CFOs are keen for the chancellor to avoid any uncertaintymore ..