Talisman has discovery in the North Sea

The UK's Talisman Energy Ltd. has an oil discovery in the UK Central North Sea near the Buchan field.

The UK's Talisman Energy Ltd. has an oil discovery in the UK Central North Sea near the Buchan field.

The 21/1a-20 well tested the J5 exploration prospect 6 km northeast of the Buchan field in block 21/1a and 4 km southeast of the J1 discovery. The well discovered good quality, commercial hydrocarbon pay in an Upper Jurassic sandstone reservoir. The well tested and flowed at a rate of 7,100 b/d of 40.2° API oil plus 7.6 MMcf/d of natural gas. These rates were limited by surface test equipment. No oil water contact was encountered in the well, but pressure data and drill stem test data indicate commercial volumes of oil in place.

The well has been drilled in an optimally located structural position. Subject to DTI approval, it will be retained as a producer to be tied back to the J1 discovery, which is in the process of development planning. Initial estimates suggest that the discovery contains 10-40 MMbbl of oil in place. This figure is in addition to the 40-70 MMbbl of oil in place already established on J1.

"This is our third exploration success in a row this year in the North Sea and demonstrates the quality of our core areas," said Jim Buckee, president and CEO of Talisman. "Three more North Sea exploration wells are set to spud in November."

Talisman operates the block with 94.014% interest. The other participant is First Oil with 5.986%.

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