Oil discoveries made in UK North Sea

Oil discoveries made in UK North Sea

by Big Mac

oil-well

New oil discoveries have been made in the UK North Sea.

Exploration company Apache Corporation found oil in the first two wells which were drilled in the Beryl area.

It also announced a large discovery in its Seagull prospect – around 50 mile from its largest oil field in the UK North Sea – Forties Field.

Apache estimates the two discoveries to make up between 50 million and 70 million barrels of oil equivalent.

Toman Voytovich, Apache’s Executive Vice President said: “Apache’s exploration programme in the high potential Beryl area is off to an exceptional start.

The success of our first two exploration wells at Beryl, combined with the Seagull discovery, could increase our total North Sea proved reserve base by more than 50%”