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November 15, 2018

Azinor Catalyst makes oil discovery at Agar-Plantain prospect in UK

Azinor Catalyst has reported an oil discovery at its 9/14a-17B exploration well and associated side-track on the Agar-Plantain prospect in the UK North Sea.

Azinor Catalyst has reported an oil discovery at its 9/14a-17B exploration well and associated side-track on the Agar-Plantain prospect in the UK North Sea.

The company noted that the initial 9/14a-17B well, which was drilled by the Transocean Leader semi-submersible drilling rig, encountered excellent quality oil and water-bearing sands.

As the wellbore delineated the eastern extent of the hydrocarbon discovery, the licence partners drilled the contingent Agar side-track to further appraise the discovery.

The side-track has hit a 20m interval of quality oil-bearing sands.

Located close to existing infrastructure, the discovery is estimated to contain recoverable resources ranging between 15 and 50 million barrels of oil equivalent (Mboe), based on a preliminary analysis.

“Given the proximity to local infrastructure, the shallow reservoir depths and significant upside on the block, this is shaping up to be a highly attractive project for us.”

With a 25% interest, well operator Catalyst added that further analysis will be required to establish the quality of the oil.

Azinor Catalyst managing director Nick Terrell said: “Given the proximity to local infrastructure, the shallow reservoir depths and significant upside on the block, this is shaping up to be a highly attractive project for us.”

Cairn Energy’s wholly owned subsidiary Nautical Petroleum owns a 50% stake, while the remaining 25% is held by Faroe Petroleum.

Cairn stated that the partners will carry out further evaluation of development options to establish commerciality.

Catalyst is currently working on plugging and abandoning the Agar-Plantain well.

In 2014, the company made the Agar discovery with the 9/14a-15A exploration well, which encountered a 33ft column.

Cairn farmed into licence P1763 with Azinor Catalyst in June, which saw the acquisition of a 25% interest within the greater licence area and a 50% stake in the Sole Risk Area that comprises Plantain-Agar.

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