ONE of the companies analysing the results of UK North Sea exploration drilling has said a successful test on the East Breagh gas find could accelerate a major new development.
Broker Evolution Securities said yesterday: “No reserves are given but we anticipate a total recoverable reserve for the field in the order of 600billion cubic feet (mcf); one of the largest gas fields to be discovered in the UK southern gas basin for years.
“The results suggest that East Breagh and West Breagh form a single significant accumulation. The next well will be a horizontal well to test reservoir productivity with a view to formulating a development plan.”
Aberdeen-based Faroe Petroleum, which has a 10% stake in the licence, said operator Sterling Resources, with a 45% interest, had completed testing the East Breagh well in block 42/13 at rates of up to 10.2mcf per day.
It said: “Sterling Resources has confirmed that the productivity from the upper sands is in line with expectations and that producible gas in the lower section can be considered an added bonus.”
Faroe chief executive Graham Stewart said: “This positive result, combined with the significant resource already confirmed in adjoining West Breagh, will assist in making an early development decision for this substantial gas field.”
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