New graben located on promote blocks in UK North Sea's southern gas basin

12/20/2004
The North Sea, one of the world's major hydrocarbon provinces, is the world's seventh largest oil and gas producer. It has yielded more than 31 billion bbl of oil equivalent since the late 1960s, and an estimated 4.7 billion bbl of oil and more than 170 tcf of gas remain in the basin.The discovery of giant Groningen gas field in the Netherlands in 1959, containing more than 100 tcf of gas in Lower Permian sandstones, was the catalyst for exploration in the North Sea. Its discovery suggested the possibility of the extension of the Permian sandstone reservoir across the North Sea into eastern England.The absence of an international agreement prevented offshore exploration until 1964...
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