Cairn sees standalone potential in North Sea Presto prospect
Nov. 16, 2018
Cairn Energy expects the exploration well on the Presto (ex-Stjerneskudd) prospect in the Norwegian North Sea to spud in late December.
Offshore staff
EDINBURGH, UK – Cairn Energy expects the exploration well on the Presto (ex-Stjerneskudd) prospect in the Norwegian North Sea to spud in late December.
Equinor is the operator of the surrounding license PL885, with Cairn holding a 30% interest.
The well will target resources of around 160,000 MMboe, with standalone development potential if proven and follow-on drilling potential in the area.
Cairn has also agreed to farm out 40% of its 100% stake in UK North Sea license P2312 containing the 154-MMboe Chimera prospect, which it plans to drill in the second half of 2019. The farm-out is conditional upon regulatory consent.
However, the company’s recent well on the Ekland prospect in UK waters did not find commercial hydrocarbons and has been P&A’d.
