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ChevronTexaco Boosts Confidence with Large Find in UKCS
Aberdeen City Council's head of economic development Rita Stephen commented: "This is excellent news for the continued prosperity of the UKCS. The possible size of this discovery could contradict the view that there no more elephants out there. If confirmed, it could also underpin the UKCS as having a long future." Mrs Stephen said with more than 10,000 job cuts predicted in the UKCS by 2016 because of the sector's maturity, the ChevronTexaco discovery could go some way to minimising the impact, putting off for a substantial period any decline. It might also create new jobs. The well, located in 3,600 feet (1,100 meters) of water and completed on August 30, 2004, encountered two oil and gas accumulations for a total net pay of 169 feet (52 meters) with oil quality ranging from 27–36 degrees API. Non-associated gas was also encountered in the shallower reservoir. The well, which was not tested, has been plugged and abandoned at a total depth of 12,153 feet (3,607 meters). Further drilling will be carried out to fully appraise the find. Find out more about ChevronTexaco Search for more ChevronTexaco News Posted 10/12/04 |
ChevronTexaco and its partners, Statoil, OMV and DONG, have made a significant oil and gas discovery at the offshore Rosebank/Lochnagar well (213/27-1Z) in the Faroe-Shetland Channel.