Total Makes North Sea Gas Find (Update)

(Adds comments from partner Neptune Energy)

France's Total has made a gas and condensate discovery at the P1820 licence in the central North Sea off the UK, it reported on March 17.

The Isabella well was drilled 40 km south of the Total-operated Elgin-Franklin gas condensate field, in waters 80 metres deep. It encountered a 64-metre net pay of lean gas and condensate and high-quality light oil in Upper Jurassic and Triassic sandstone reservoirs. Like Elgin-Franklin, it is a high-pressure, high-temperature (HPHT) field.

Analysis of the well data is underway to assess the find and determine the appraisal programme needed to confirm its commerciality, the operator said.

"The initial results at Isabella are encouraging. This demonstrates that our exploration strategy in the North Sea to explore for value adding prospects nearby to our infrastructure is working," Total's senior vice president for exploration Kevin McLachlan said.

Neptune Energy CEO Jim House said the discovery of hydrocarbons in three separate formations was "positive news for Neptune and our partners. While analysis of the results is ongoing, the initial findings show significant promise. Having acquired our interest in the exciting HPHT Isabella prospect in 2018, the result further strengthens our growing UK portfolio and demonstrates the significant remaining hydrocarbon potential in the region.”

Total serves as operator of the P1820 licence with a 30% stake, while Neptune Energy has a 50% interest and Ithaca Energy and Edison each have 10%.