ON A busy day for announcements in the oil and gas sector, Bridge Energy announced the discovery of a reserve in the North Sea.
The Contender Well holds an oil-bearing reservoir in excess of 65 feet, the company said. It is 60 per cent owned by operator Taqa Bratani, the Aberdeen-based subsidiary of the Abu Dhabi national energy company. Taqa acquired the assets in 2008 from Shell. The find is near Taqa’s North Cormorant platform, 100 miles north-east of Lerwick, and the company said the find would be developed under the new field name Cormorant East. Dana Petroleum has a 20 per cent stake in the find.
AIM-quoted Plexus Holdings also announced a £2 million deal to supply its wellhead technology to Norwegian oil and gas operator Lundin Norway.