Statoil (U.K.) Limited has confirmed that it will drill a well in UK Seaward License P.2170 in summer 2017.

Independent oil and gas company Jersey Oil & Gas, which holds an 18 percent interest in the license, has announced its participation in the project. The license has a drill or drop deadline on November 30, 2016.

“We are delighted to confirm the company’s participation in a well to be drilled on the highly material and prospective Verbier prospect in which Jersey Oil & Gas holds an 18 percent interest,” said Andrew Benitz, CEO of Jersey Oil & Gas.

“We believe the planned well could be one of the most exciting exploration prospects to be drilled in the UKCS in recent years,” he added.

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