UK explorer Siccar Point Energy E&P has signed up a rig to drill a well on the Lyon prospect, west of Shetland.
Lyon is due to be drilled in 2018, using North Atlantic Drilling's West Hercules semisubmersible, immediately following drilling a Cambo appraisal well, also west of Shetland, starting in April. New field parter Ineos UK says Lyon could contain 1-3 Tcf.
Ineos has said Lyon could be big enough to form a new gas hub in what Ineos says is the most northly licensed area of the UK Continental Shelf, 150km north of the Shetland Islands.
Chemicals and oil products group Ineos' subsidiary Ineos UK SNS has agreed to acquire a majority stake in two West of Shetland exploration licenses from Siccar Point Energy.
The deal, seeing Ineos take 66.6% in licenses P.1854 and P.1935, with Siccar retaining the rest and operatorship, follows Ineos' acquisition of stakes in producing assets and discoveries West of Shetland, from DONG E&P.
Read more: Lyon prospect could create new gas hub
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