Newly rebranded CNOOC International — formerly Nexen Energy — appears set to start 2019 with positive results from a key exploration well it has been drilling in the UK central North Sea, writes Rob Watts.

CNOOC International is expected to announce imminently the outcome of work on its high-pressure, high-temperature Glengorm exploration well, which started drilling last summer.

According to two sources with knowledge of the drilling operation, the Chinese-owned operator could make a positive public announcement within the next couple of weeks — although they did not provide further information.

However, this remains unconfirmed and CNOOC International declined to comment this week.

The Block 22/21c-13 Glengorm exploration well was spudded on 26 August by the Borr Drilling-owned jack-up Prospector 5, targeting the Upper Jurassic Fulmar and Heather formations.

The well had an estimated duration of 147 days and the work followed two aborted attempts in 2017, which were due to mechanical reasons.

Nexen this week changed its name to CNOOC International after further integration into its parent company.

It is six years since Chinese state-owned entity CNOOC Ltd completed its $15.1 billion takeover of Canadian oil producer Nexen.

A spokesman said of the change: “This demonstrates CNOOC Limited’s continued commitment to growing its international portfolio.

At CNOOC International, we remain committed to delivering safe, reliable operations and working collaboratively with stakeholders in the local communities where we operate.”

CNOOC International is one of the largest offshore producers in the world.

It contributes more than 25% of the UK’s oil production though operatorship of the country’s biggest producing field, Buzzard, as well as the Golden Eagle and Scott developments.

CNOOC International is currently proceeding with the Buzzard phase two project, a subsea development about five kilometres north-east of the Buzzard platform.

This will comprise a 12-slot production and water injection subsea manifold that will be tied back to the existing Buzzard complex.

First oil from this project is expected in 2021.

Meanwhile, private equity-backed operator Neptune Energy confirmed this week that drilling has been completed at a well aiming to prove up new reserves near the Cygnus field in the southern North Sea.

A spokesman said drilling wrapped up before the end of the year, but added that the company was not yet ready to announce results.

Neptune spudded the Block 44/12b-7 Fault Block 9 exploration well, north-east of Cygnus , in late October with the Ensco 101.