Local MSP Maree Todd has welcomed the announcement by Hurricane Energy of a huge oil find off the West of Shetland. Hurricane Energy confirmed that the Halifax well is an oil discovery with initial data analysis indicating Halifax is linked to the Lancaster field forming a single large hydrocarbon accumulation.
Preliminary third party analysis from the Halifax Well indicates a very significant hydrocarbon column of at least 1,156 metres present. The announcement marks the completion of 265 days during which Hurricane Energy has had the Transocean Spitsbergen rig on hire.
Dr Robert Trice, Hurricane’s CEO, said:
“This is a highly significant moment for Hurricane and I am delighted that the Halifax Well results support the Company’s view that its substantial Lancaster discovery has been extended to include the Halifax licence. We believe that the GLA is a single hydrocarbon accumulation, making it the largest undeveloped discovery on the UK Continental Shelf.”
“The discovery of a 1km hydrocarbon column at Halifax validates the efforts the Company undertook to acquire the licence and drill, test and log the Halifax Well through the winter months. Given the positive well results, the Halifax Well has been suspended to provide the Company the option to return to undertake further testing as well as provide the option to deepen the well and thereby establish a definitive oil water contact.”
Maree Todd MSP, SNP, said:
“This is a significant discovery and a welcome reminder of the huge untapped potential that remains in Scottish waters.”
“But to maximise the long term benefits for Scotland it is vital that the right fiscal regime is in place to bring new discoveries on-stream. Only by stewarding new prospects to production will we reap the benefits in terms of creating jobs and boosting our economy.”
“Throughout the downturn in the global oil and gas industry the Scottish Government has invested in research and development – helping firms to lay foundations for future growth.
“Meanwhile the UK government has demonstrated a shameful lack of action, sitting on its hands in the recent budget statement and designating the oil and gas sector a ‘low priority’ in Brexit negotiations.”
“Perhaps this welcome news for the industry might, at long last, spur the UK government into action in providing long overdue support for Scotland’s energy sector.”
Dr Robert Trice commented:
“I would personally like to thank Transocean whose pragmatic approach to commercial and contractual negotiations have been a breath of fresh air in today’s tough industry environment, and have facilitated Hurricane’s successful campaign during a time when UK exploration and appraisal drilling has been at a low. We have created a great partnership and I look forward to successfully continuing this relationship.”
“These are exciting times for Hurricane.”