UK

BP Exploration and Nexen Inc., Calgary, lead a group that plans to drill the North Uist prospect on the West of Shetlands P1192 license 110 km northwest of Sullom Voe later this year.

July 16, 2010

By OGJ editors
HOUSTON, July 16 – BP Exploration and Nexen Inc., Calgary, lead a group that plans to drill the North Uist prospect on the West of Shetlands P1192 license 110 km northwest of Sullom Voe later this year.

BP has 45% interest in the license, and Nexen has 35%. Nexen said the prospect has a target size much larger than typical North Sea targets. A previous license holder estimated the potential at 1 billion bbl of oil.

Faroe Petroleum, Aberdeen, which has 6.25% interest, calls the prospect Cardhu. Other interest holders are Idemitsu E&P Ltd. and CIECO Exploration and Production (UK) Ltd.