E.ON Makes Important Step with UK Gas Discovery

E.on has made an “encouraging” gas discovery after drilling in the Tolmount prospect in the southern North Sea, it said yesterday.

“We are pleased to announce a successful UK gas discovery. This result is another important step for our upstream business,” chief executive officer of E.ON’s exploration and production arm, Frank Siversten, said.

The well encountered a gas column in excess of 200 feet in a sandstone formation and flowed at a maximum stable rate of 50 million standard cubic feet/day.

“The Tolmount well results are very encouraging and will be incorporated into ongoing studies to assess the optimum development strategy for this discovery,” E.ON E&P managing director in the UK Felix Lerch said.

The company said E&P is becoming an area of strategic focus since making the jump into upstream development in 2003.

Output from UK, Norwegian, Russian and North African fields was 8.6 billion cubic metres of oil and gas last year, the company said. That figure is expected to grow as new fields come onstream in the coming years, it said.

[mappress]

Source: yorkshirepost , October 12, 2011