Calgary-based Oilexco has begun ordering steel for a development of the Huntington discovery in the North Sea ahead of sending U.K. regulators a development plan, the heralded said Monday.
The announcement was made after it was determined Huntington could be hundreds of feet deeper-set than was thought of its oil reservoir. Appraisal drilling showed Huntington was at least 452 feet deep, with its crust yet to be drilled.
Fast-track development options are being perused that might include production from the nearby Mallory discovery, just four miles northeast. Huntington in Block 22/14b-8 and Mallory at Block 22/14a-7 could become sub-sea tie backs, hire or buy floating production or become a fixed platform, juding by an Oilexco report.
A rig hired long-term will drill more appraisals of Huntington in second-half 2008.
Oilexco is 40 percent owner of Huntington, where it is joined by Norway-based Altinex (20 percent) and German E.ON Ruhrgas.
Tags:
Altinex,
E.ON Ruhrgas AG,
Huntington discovery,
Oilexco Incorporated
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