A new viable oilfield has been discovered in the North Sea and a plan is being worked out for its development.
The find in the UK central sector was made by GDF Suez E&P UK Ltd and BP, and spans the block operated by the two companies 170 miles east of Montrose.
The discovery, referred to as Marconi by GDF Suez and Vorlich by BP, has been flow tested at a maximum rate of 5,350 barrels of oil equivalent per day.
Further tests are taking place to assess its capacity and potential.
There is already considerable industry infrastructure in the Central North Sea.
Ruud Zoon, managing director of GDF Suez E&P UK Ltd, said: “This is an encouraging exploration discovery in a part of the Central North Sea that needs additional volumes of hydrocarbons to open up development options for several stranded discoveries.
“The discovery is our third successful well this year and demonstrates a continuing commitment by GDF Suez to an active exploration and appraisal drilling programme on the UK Continental Shelf.”
The discovery is the biggest made by BP in the North Sea this year.
Trevor Garlick, regional president of BP North Sea, said: “As BP marks its 50th year in the North Sea, and as the industry looks to maximise economic recovery from the basin, increasing exploration activity and finding new ways to collaborate will be critical to realising remaining potential.
“This discovery is a great example of both.”
The well was drilled by GDF Suez E&P UK Ltd as operator, with the Transocean Galaxy II jack-up rig under a joint well agreement between the two licence groups.
Business and Energy Minister Matthew Hancock said: “This discovery shows exactly what can be achieved in the North Sea if companies work together to maximise the considerable potential of remaining oil and gas reserves.”
Oil & Gas UK’s operations director Oonagh Werngren welcomed the announcement, saying: “At a time when exploration in the UKCS is facing severe investment and cost pressures, it is heartening to see two UK explorers apply their expertise to understand the risks of the Central North Sea and demonstrate that there are still significant economic plays to be developed within the basin.
“The area has been identified as an area of special economic interest, with the greatest potential for rejuvenation across the whole UK Continental Shelf.”
She added that the Government’s industry forum, Pilot, is looking to increase collaboration to ensure infrastructure hubs critical to maximising economic recovery of oil and gas are accessible and fit for purpose for the long-term future of the industry.