As good as it gets

Oil find ‘could be biggest of the century’

Hurricane Energy is set to announce, at the end of March, that surveys of its Halifax well in an area 100km off the west of the Shetland Islands have identified a “kilometre-deep oil column” linked to its existing Lancaster oil field.

The company says the well results support its theory that the Lancaster field and the Halifax discovery are in fact part of the same single hydrocarbon accumulation –  referred to as the Greater Lancaster Area (GLA).

Hurricane needs to raise about $400 million (£318m) to develop the project and aims to start producing oil from the Lancaster field in 2019.

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