Drilling activity on the increase in the North Sea.
15 July 2010
Drilling activity in the North Sea has been on the rise in the past 3 months, according to figures from Deloitte. Between April and June, 28 exploration and appraisal wells were started, more than double the number from the first 3 months of the year, suggesting there is still a huge potential for oil finds in the North Sea.
One of the most exciting finds has the potential to be one of the largest oil discoveries in the North Sea since 2001. The Catcher prospect is currently thought to hold up to 300 million barrels, and further investigation could see an increase in this figure. The average figure for North Sea oil finds over the past 10 years has been around 20 million barrels.
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