ChevronTexaco reports Faroe-Shetland Channel discovery

By OGJ editors

HOUSTON, Dec. 10 -- Texaco North Sea UK Co. and partners reported a significant oil and gas discovery with the Rosebank-Lochnagar well (213/27-1Z) on Block 213/27 in the deepwater Faroe-Shetland Channel off the UK, reported parent ChevronTexaco Corp. The well is 126 km off Esha Ness, Shetland, near the UK-Faroes median line.

The well, drilled by the West Navigator drillship in 3,600 ft of water, encountered two 27-36° gravity oil and gas accumulations in total net pay of 169 ft. Nonassociated gas also was encountered in the shallower reservoir, ChevronTexaco said. The well, not tested, has been plugged and abandoned at a total depth of 12,153 ft. Further drilling is planned.

Operator Texaco North Sea, which was awarded 100% of Blocks 213/26 and 213/27 under license P1026 in the UK's 19th licensing round in 2001, retains 40% interest. Statoil (UK) Ltd. holds 30%, OMV (UK) Ltd. 20%, and DONG (UK) Ltd. 10%.

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