Hurricane Energy has started drilling its latest well west of the UK North Sea's Shetland region.
Known as Lincoln well, it is situated about 9km from Lancaster.
The well will explore a basement prospect that shares a similar structure with the large Lancaster field.
Transocean Spitsbergen discovered Lancaster oilfield, and conducted the latest probe – 205/26b-A at the site.
It is estimated that the site holds approximately 200 million barrels of oil, reported Upstreamonline.com.
Hurricane was quoted by the website as stating that a successful find at Lincoln 'could deliver significant incremental value via tieback to a Lancaster development hub in a subsequent phase of development of the Greater Lancaster Area'.
The explorer also plans to dig a well at the Warwick prospect, but it may get substituted by the similar Rona Ridge prospect.
The firm has full interest in this find, and plans to publish a resource update in early 2017. This update will include the recent results at Lancaster.
Hurricane Energy also intends to make use of a leased or relocated floating production, storage and offloading vessel at the field.
The firm plans for an early production system expected to be online by 2019.