Valiant negotiates rig for offshore WoS exploration well

Offshore staff

WOKING, UK – Valiant Petroleum is hoping to secure the drillship Stena Carron to drill the Handcross prospect west of Shetland.

Currently the rig is working for BP in the same area on the North Uist exploration prospect.

Britain’s Department of Energy and Climate Change has agreed a six-month extension to Valiant’s license to fulfil the initial term obligation.

Handcross is a large stratigraphic trap, similar to the nearby producing Foinaven and Schiehallion fields. Various geophysical anomalies in the structure appear to reflect the presence of hydrocarbons in Paleocene sands.

The company estimates prospective resources at 180 MMboe.

4/10/2012

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