| OMV has first exploration success as operator on the UK Atlantic Margin |
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03/11/2009 14:34 (18 Day 00:58 minutes ago) | |||||
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The FINANCIAL -- OMV, the strongest energy group in the European growth belt, announced today that its 100% subsidiary OMV (U.K.) Limited has discovered gas and oil in the Tornado well in the UK West of Shetlands sector.
The discovery well 204/13-1 and sidetrack -1z were drilled in a water depth of 1,048 meters using the Stena Carron drillship and are OMV (U.K.)’s first operated exploration wells in deepwater West of Shetlands. Further appraisal drilling is required before making a development decision.
The initial well, was spudded on 26 September 2009 and, following discovery of hydrocarbons, the sidetrack well was started on 17 October and reached a total depth of 2,638 m. An extensive set of data has been collected in order to allow early determination of the commercial viability of the discovery. Operations were completed on November 1st with an excellent safety record.
Helmut Langanger, OMV Executive Board member responsible for Exploration and Production stated: “We are very pleased that our first deepwater exploration well in the UK has resulted in a discovery and also that the Stena Carron operation has been conducted safely and efficiently. This proves that OMV can perform exploration operations also in challenging offshore areas.”
OMV has developed its operating capabilities in the UK substantially over the last two years and is now looking forward to developing these further as the results of the Tornado wells are evaluated and preparations for appraisal and a subsequent development decision are made.
This exploration success comes as the culmination of substantial commitment to exploration and appraisal drilling by OMV over the last two years in its Atlantic Margin core area, including appraisal wells on the Rosebank and Cambo discoveries, in which OMV has non-operated interests. Both projects are seen as good candidates for development.
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