Longboat Energy has began drilling on its first ever exploration well.

The London firm said the Rodhette prospect has been spudded in the Barents Sea by operator Var Energi using the Scarabeo 8 semi-submersible rig.

Longboat farmed-in to the prospect 20% earlier this year, and is expected to take post-tax costs of $1.5million in association to it.

The company was formed in 2019 by the management team of Faroe Petroleum, an Aberdeen-based business which fell to a hostile takeover by Norwegian company DNO earlier that year.

Rodhette is estimated to contain gross mean prospective resources of 41million barrels of oil equivalent, with potential upside to take that figure to 81million barrels.

Chances of success is 41% and has potential to be tied-back to the Goliat field 18miles away.