E.ON Reinforces Upstream Business with UK North Sea Discovery

E.ON Exploration & Production announced that its Tolmount gas discovery in the UK North Sea ‘could contain significantly higher volumes than originally estimated.’

“This successful discovery in UK is an important step for our growing upstream business. Tolmount will significantly contribute to the implementation of our business strategy,” said Jørgen Kildahl, member of the E.ON Board of Management, in a note released on Tuesday.

According to the company, the discovery is one of the largest discoveries made in this part of the North Sea for several years.

“The well results will now be incorporated into development studies, with the aim of an optimised development in a short timeframe. Tolmount could be one of the largest discoveries made in the Southern North Sea in the last decade,” said Frank Sivertsen, CEO of the company.

The Tolmount discovery is located 50 km off the UK coast, to the northeast of Dimlington, East Riding of Yorkshire, in block 42/28d in the UK Southern North Sea. E.ON E&P holds 50% of the block and is the operator. The remaining 50% is in the hands of Dana Petroleum E&P.

“The Tolmount success shows there is still potential for significant volumes of hydrocarbons to be found in the UK North Sea,” commented Haakon Haaland, Executive Vice President Business Development & Exploration of E.ON E&P.

E.ON announced its gas discovery on the Tolmount prospect in October 2011.