Offshore drilling under way on Magnolia in North Sea

The semiusbmersible Ocean Nomad has spudded the 13/23a-7 Magnolia exploration well in the UK Inner Moray Firth, off northeast Scotland.

Offshore staff

TORSHAVN, Faroe Islands – The semiusbmersible Ocean Nomad has spudded the 13/23a-7 Magnolia exploration well in the UK Inner Moray Firth, off northeast Scotland.

The well, operated by Dana Petroleum, is being drilled on license P.1610 in 360 ft (110 m) of water.

According to partner Atlantic Petroleum, the prospect is close to the producing Chevron-operated Captain field, with predicted Lower Cretaceous stacked reservoirs. Drilling should last about one month.

Atlantic CEO Ben Arabo said: “Magnolia is an exciting prospect, testing a concept which could add significant resources…if successful.”

In the UK northern North Sea, Atlantic has completed acquisition of a 25% interest from Iona Energy in the Orlando and Kells discoveries in licenses P.1606 and P.1607.

Via its fully owned subsidiary Volantis Exploration, Atlantic has committed to pro-rata funding of theOrlando and Kells developments in line with its license shares.

Orlando will be developed as a subsea tieback to CNR’s Ninian Central platform, with first oil expected during 2Q 2014 at a likely initial rate exceeding 10,000 b/d. The partners also hope for sanction later this year from the UK government for the Kells tieback, which would allow first oil to be delivered in 2015.

2/28/2013

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