facebook
twitter
rss
account
search
search
 

Oil discovery made in British North Sea

June 7, 2012 at 7:54 AM   |   Comments

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.

© 2012 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Gazprom: Hungary ready for South Stream Gazprom: Hungary ready for South Stream
2
Poland, Pakistan, Lebanon seek U.S. military hardware Poland, Pakistan, Lebanon seek U.S. military hardware
3
Report: Billionaires are hoarding mountains of cash
4
Canada decides to retire two guided missile destroyers Canada decides to retire two guided missile destroyers
5
Thales receives low-rate production contract for new assault rifle Thales receives low-rate production contract for new assault rifle
Trending News
Video
x
Feedback