SICCAR Point Energy has said an exploration well drilled West of Shetland has produced encouraging results.

The private equity-backed independent said a well on the Blackrock prospect had encountered oil and gas without giving an indication of the quantities concerned.

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However, the results appear to have boosted hopes at Siccar Point that there may be significant amounts of oil and gas to be found in the waters off Shetland on which it has focused.

The company said the results of the Blackrock well had proved that reservoirs existed between the Cambo and Rosebank fields, which it has stakes in.

Chief executive Jonathan Roger said of the Blackrock well: “I am very encouraged by this well result and look forward to further exploring this material exploration play with our partners.”

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Rosebank has been described as one of the biggest undeveloped finds on the UK Continental Shelf.

Siccar Point has said the results of an appraisal well drilled last year on the Cambo prospect close to Rosebank were extremely positive.