Further to its announcement on 15 July 2005, Centrica plc today announced that well 42/21-1 on licence P1132, incorporating blocks 42/21 and 42/22 in the Southern North Sea, has been completed. Analysis of wireline logs indicated that hydrocarbons are not present in commercial quantities and the company now expects that, following receipt of approvals from the joint venture partners and the DTI, the well will be plugged and abandoned.
The total cost to Centrica of drilling operations, including abandonment, will be approximately £4 million.