Total Makes Significant UK Offshore Discovery
January 29 2019 - 2:50AM
Dow Jones News
By Nathan Allen
Total SA (FP.FR) said Tuesday that it made a significant gas and
condensate discovery on the Glengorm offshore prospect in the
U.K.'s North Sea.
Recoverable resources are estimated at around 250 million
barrels of oil equivalent, Total said.
Glengorm is on the P2215 license, which was previously part of
Maersk Oil's portfolio, and is close to Total's Elgin Franklin
field, allowing for potential infrastructure sharing.
The French oil major holds a 25% interest in the Glengorm
discovery. China's CNOOC Ltd. (0883.HK) is the operator, with a 50%
stake, while a subsidiary of Italy's Edison SpA (EDNR.MI) holds the
remaining 25%.
The companies now plan to conduct further drilling and testing
to assess the reservoir's productivity.
Write to Nathan Allen at nathan.allen@dowjones.com
(END) Dow Jones Newswires
January 29, 2019 02:35 ET (07:35 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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