EDNR Edison RNC

   By Nathan Allen 
 

Total SA (FP.FR) said Tuesday that it made a significant gas and condensate discovery on the Glengorm offshore prospect in the U.K.'s North Sea.

Recoverable resources are estimated at around 250 million barrels of oil equivalent, Total said.

Glengorm is on the P2215 license, which was previously part of Maersk Oil's portfolio, and is close to Total's Elgin Franklin field, allowing for potential infrastructure sharing.

The French oil major holds a 25% interest in the Glengorm discovery. China's CNOOC Ltd. (0883.HK) is the operator, with a 50% stake, while a subsidiary of Italy's Edison SpA (EDNR.MI) holds the remaining 25%.

The companies now plan to conduct further drilling and testing to assess the reservoir's productivity.

Write to Nathan Allen at nathan.allen@dowjones.com

(END) Dow Jones Newswires

January 29, 2019 02:35 ET (07:35 GMT)

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