OSLO (Reuters) - Norway's Statoil (OL:STL) will drill three exploration wells on Britain's continental shelf (UKCS) this year, the company said on Friday.
Plans include an appraisal well at the Verbier prospect in the outer Moray Firth, where Statoil made its largest oil discovery of 2017
Statoil estimates the Verbier discovery to hold preliminary 25-130 million barrels of oil, and the appraisal well should help to narrow the range
Statoil holds 70 pct, Jersey Oil and Gas has 18 pct and CIECO V&C (UK) Limited has 12 pct in the Verbier license
Statoil will also drill exploration wells at the Pip prospect in the Fladen Ground Spur area and at the Bigfoot prospect south of the Statoil-operated Mariner field
Statoil and BP (LON:BP) have 50 percent each in the two licenses
The Norwegian oil and gas firm said these exploration plans demonstrated its commitment to the UKCS and it hoped to make discoveries that could lead to new oilfield developments
The three wells will be drilled by Seadrill's West Phoenix rig for a total cost of $18.5 million
In 2017, Statoil also drilled three exploration on the UKCS, with two wells yielding disappointing results