Cragganmore Exploration Well Successful

GDF SUEZ E&P UK has announced that the Cragganmore exploration well was a successful gas discovery. Located at block 208/17, this is one of two wells drilled in the West of Shetlands in partnership with DONG Energy as operator.

The Cragganmore well results are currently being evaluated to assess viability and determine further activity. The second well, Glenrothes in block 208/11, has been plugged and abandoned having reached total depth of 4,295 meters. The drilling campaign commenced at the end of 2012 and continued into early 2013.

GDF SUEZ E&P UK aims to become a leading player in the region by developing a growing portfolio of leads, prospects and discoveries. In the West of Shetlands, the company secured its first license as operator, and three others as partner, in October 2012. GDF SUEZ E&P UK now holds a total of seven licences in the West of Shetlands province. The company’s next exploration well in the region is planned for 2015.

GDF SUEZ E&P UK managing director Jean-Claude Perdigues said: “The West of Shetlands is one of GDF SUEZ E&P UK’s three core growth areas in the UK Continental Shelf, together with the Southern North Sea and the Central North Sea.

”It is a very exciting area, holding an estimated 17% of the UK’s remaining hydrocarbon resources, with the potential to grow as a major gas production province. We want to become a leading exploration company, and following the installation of infrastructure, take a major part in unlocking the hydrocarbon reserves and resources in this region.”

GDF SUEZ E&P UK is a partner (30% equity) in the exploration wells at Glenrothes and Cragganmore. DONG Energy is the operator (40% equity) and Dana Petroleum is also a partner (30% equity).

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Press Release, July 31, 2013