The CNOOC, China National Offshore Oil Corporation, has made a significant gas discovery in the central North Sea. The CNOOC, joined by Joint Venture (JV) partners Total and Edison, estimate the find to potentially 250 million barrels of oil. Glengorm, potentially the biggest find since 2008, sits 118 miles east of Aberdeen, Scotland close to existing fields the Culzean project and Elgin-Franklin platform. “Our strong position in the region will enable us to leverage existing infrastructures nearby and optimise the development of this discovery. Glengorm is an achievement that demonstrates our capacity to create value in a mature environment thanks to our in-depth understanding of the basin.”
Glengorm lies northwest of Elgin-Franklin and west of Culzean. The joint development of the Elgin-Franklin fields is the largest high pressure high temperature development in the world dating back to their discoveries in the mid-1990s. Culzean, discovered in 2008, due to start initial production this year could provide capacity availability.
This find has reignited production life to the surrounding waters of the United Kingdom, also known as the United Kingdom Continental Shelf (UKCS). The area includes large resources of oil and gas with estimates of between 10 and 20 billion barrels plus to be discovered. 2019 could prove to be the highest impact exploration in NW Europe in a decade. Glengrom shows that discoveries are possible and with 27 high impact prospects planned for this year, UK exploration could have a “bumper year”