E.ON Exploration & Production's (E&P) Tolmount gas discovery in the UK North Sea could contain significantly higher volumes than originally estimated, making it one of the largest discoveries made in this part of the North Sea for several years.

The recently completed appraisal well reached its targets within time and budget on 6 July. A 855 m side-track was completed on 30 July.

"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.

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The Tolmount gas accumulation is situated near existing gas infrastructure in the UK North Sea. E.ON E&P already has a strong presence in this area and operates the Johnston and Babbage gas fields.

"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 E.ON E&P.

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 (operator) holds 50% of 42/28d and Dana Petroleum (E&P) Limited holds 50%.

"We would like to thank our partner Dana Petroleum for its support and teamwork in reaching this significant milestone. The Tolmount success shows there is still potential for significant volumes of hydrocarbons to be found in the UK North Sea," said Haakon Haaland, Executive Vice President Business Development & Exploration of E.ON E&P.

(CD/JP)