LONDON – The semisubmersible Transocean Spitsbergen has spudded the Verbier well in UK central North Sea license P.2170 for operator Statoil.
Partner Jersey Oil & Gas says well 20/05b-13 could be followed by a side track, depending on results, in which case drilling could last up to 70 days.
Statoil has agreed to fund all costs up to $25 million for the well, with JOG also benefiting from a further cash carry of 10% of well costs from co-venturer CIECO Exploration and Production (UK).
Andrew Benitz, CEO of Jersey, said: “TheVerbier prospect is estimated to have mean prospective resources of 162 MMboe…”
COO Ron Lansdell added: “Success at Verbier could provide significant impetus for potential future exploration of the neighboring Cortina prospect within the P.2170 license area.”