LONDON, June 7 (UPI) -- British energy company Premier Oil announced that it made an oil discovery in the Catcher area of the country's territorial waters of the North Sea.
Premier said it encountered 51 net feet of medium-grade crude oil in the Carnaby exploration well in the North Sea.
"The discovery of good quality oil in the western part of the block is encouraging and the results from the Carnaby well will be used to calibrate the remaining exploration potential in this part of the block," Premier Chief Executive Officer Simon Lockett said in a statement.
Lockett said the well would contribute to ongoing developments in the area, which continue to focus on oil production from previous discoveries.
Scottish energy company Cairn is a partner at the project through its subsidiary Agora Oil and Gas, which has a 15 percent stake in the project.
|Additional Energy Resources Stories|
TEHRAN, May 21 (UPI) --Iran will invest $16 billion in development of the offshore South Pars gas complex over the next 10 months, a natural gas company director said.
RIO DE JANEIRO, May 20 (UPI) --Sweden's Saab is upgrading its bid for Brazil's FX-2 jet fighter purchase plan, even as it weighs challenges from rivals Boeing and France's Dassault.